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.
Shares of SPX Flow Inc. (NYSE:FLOW) opened at 26.28 on Tuesday. The stock’s 50 day moving average price is $28.96 and its 200 day moving average price is $28.19. SPX Flow Inc. has a one year low of $14.85 and a one year high of $38.40. The company’s market cap is $1.10 billion.
SPX Flow (NYSE:FLOW) last issued its earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. The company earned $528.80 million during the quarter, compared to the consensus estimate of $64.15 million. During the same period in the previous year, the company posted $1.15 EPS. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities analysts predict that SPX Flow Inc. will post $0.15 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded SPX Flow from a hold rating to a buy rating and set a $30.00 target price for the company in a research note on Thursday, October 13th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $28.50.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC increased its stake in SPX Flow by 0.4% in the second quarter. BlackRock Advisors LLC now owns 19,519 shares of the company’s stock valued at $509,000 after buying an additional 75 shares during the period. Arizona State Retirement System increased its stake in SPX Flow by 0.9% in the second quarter. Arizona State Retirement System now owns 21,600 shares of the company’s stock valued at $563,000 after buying an additional 200 shares during the period. 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 period. Profund Advisors LLC boosted its position in shares of SPX Flow by 17.9% in the second quarter. Profund Advisors LLC now owns 13,969 shares of the company’s stock valued at $364,000 after buying an additional 2,122 shares in the last quarter. Finally, Invictus RG bought a new position in shares of SPX Flow during the second quarter valued at $147,000. Institutional investors and hedge funds own 83.39% of the company’s stock.
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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