SPX Flow Inc. (FLOW) Updates Q3 Earnings Guidance
SPX Flow Inc. (NYSE:FLOW) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.30-0.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.47. The company issued revenue guidance of $467 million, compared to the consensus revenue estimate of $496.97 million.
Separately, Zacks Investment Research upgraded shares of SPX Flow from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Thursday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $28.50.
Shares of SPX Flow Inc. (NYSE:FLOW) traded down 2.45% during midday trading on Monday, hitting $26.28. 174,776 shares of the stock were exchanged. SPX Flow Inc. has a one year low of $14.85 and a one year high of $38.40. The stock’s market cap is $1.10 billion. The stock’s 50-day moving average price is $29.06 and its 200 day moving average price is $28.15.
SPX Flow (NYSE:FLOW) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The business earned $528.80 million during the quarter, compared to analyst estimates of $64.15 million. SPX Flow had a negative net margin of 16.41% and a positive return on equity of 8.26%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 earnings per share. On average, analysts anticipate that SPX Flow Inc. will post $0.15 earnings per share for the current year.
A number of large investors have recently bought and sold shares of FLOW. Invictus RG bought a new stake in SPX Flow during the second quarter valued at $147,000. AXA bought a new stake in SPX Flow during the second quarter valued at $177,000. US Bancorp DE increased its stake in SPX Flow by 11.1% in the second quarter. US Bancorp DE now owns 7,468 shares of the company’s stock valued at $194,000 after buying an additional 746 shares during the last quarter. Trexquant Investment LP bought a new stake in SPX Flow during the second quarter valued at $250,000. Finally, Zacks Investment Management bought a new stake in SPX Flow during the second quarter valued at $283,000. 83.39% of the stock is owned by institutional investors and hedge funds.
SPX Flow Company Profile
SPX FLOW, Inc is a global supplier of engineered solutions. The Company engineers, designs, manufactures and markets products and solutions used to process, blend, filter, dry, meter and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems and components, as well as aftermarket components and support services.
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