Wall Street analysts expect SPX Technologies (SPXC) to post quarterly earnings of $1.86 per share in its upcoming report, which indicates a year-over-year increase of 23.2%. Revenues are expected to be $627.44 million, up 17.6% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain SPX Technologies metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenues- Detection & Measurement' stands at $197.64 million. The estimate suggests a change of +21.1% year over year.
Based on the collective assessment of analysts, 'Revenues- HVAC' should arrive at $429.80 million. The estimate indicates a year-over-year change of +16%.
Analysts' assessment points toward 'Segment Income- Detection & Measurement' reaching $45.83 million. The estimate is in contrast to the year-ago figure of $37.60 million.
The combined assessment of analysts suggests that 'Segment Income- HVAC' will likely reach $107.68 million. Compared to the present estimate, the company reported $91.80 million in the same quarter last year.
View all Key Company Metrics for SPX Technologies here>>>
Shares of SPX Technologies have experienced a change of +9.4% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), SPXC is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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SPX Technologies, Inc. (SPXC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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