Trade Report: The SPX Flow Inc. (FLOW) Updates Q3 Earnings Guidance

The SPX Flow Inc. (FLOW) Updates Q3 Earnings Guidance

SPX Flow Inc. (NYSE:FLOW) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.30-0.35 for the period, compared to the Thomson Reuters consensus estimate of $0.47. The company issued revenue guidance of $467 million, compared to the consensus revenue estimate of $496.97 million.

SPX Flow Inc. (NYSE:FLOW) traded down 2.45% during midday trading on Monday, reaching $26.28. The company had a trading volume of 174,776 shares. The company has a 50-day moving average price of $29.06 and a 200-day moving average price of $28.15. The stock’s market capitalization is $1.10 billion. SPX Flow Inc. has a one year low of $14.85 and a one year high of $38.40.

SPX Flow (NYSE:FLOW) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (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 firm earned $528.80 million during the quarter, compared to analyst estimates of $64.15 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year. On average, equities analysts expect that SPX Flow Inc. will post $0.15 earnings per share for the current year.

Separately, Zacks Investment Research lowered SPX Flow from a buy rating to a hold rating in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. SPX Flow presently has a consensus rating of Hold and a consensus target price of $28.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of SPX Flow by 27.4% in the second quarter. BlackRock Fund Advisors now owns 2,604,185 shares of the company’s stock worth $67,891,000 after buying an additional 560,580 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of SPX Flow by 29.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,403,555 shares of the company’s stock worth $36,591,000 after buying an additional 318,920 shares in the last quarter. Levin Capital Strategies L.P. increased its position in shares of SPX Flow by 79.5% in the second quarter. Levin Capital Strategies L.P. now owns 485,740 shares of the company’s stock worth $12,663,000 after buying an additional 215,184 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SPX Flow by 58.3% in the second quarter. Dimensional Fund Advisors LP now owns 545,638 shares of the company’s stock worth $14,223,000 after buying an additional 201,034 shares in the last quarter. Finally, State Street Corp increased its position in shares of SPX Flow by 28.3% in the second quarter. State Street Corp now owns 827,153 shares of the company’s stock worth $21,567,000 after buying an additional 182,374 shares in the last quarter. Institutional investors own 83.39% of the company’s stock.

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