Brokerages expect Rexnord Corp (NYSE:RXN) to post earnings of $0.44 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Rexnord’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.47. Rexnord reported earnings per share of $0.47 during the same quarter last year, which suggests a negative year-over-year growth rate of 6.4%. The firm is expected to report its next earnings report on Wednesday, January 29th.
On average, analysts expect that Rexnord will report full-year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.91 to $2.12. For the next year, analysts expect that the business will report earnings of $2.18 per share, with EPS estimates ranging from $2.05 to $2.50. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Rexnord.
Rexnord (NYSE:RXN) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. Rexnord had a net margin of 8.56% and a return on equity of 19.40%. The company had revenue of $521.30 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the firm earned $0.46 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year.
RXN has been the topic of several recent research reports. Zacks Investment Research lowered shares of Rexnord from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Friday, October 11th. Barclays reissued a “hold” rating and set a $29.00 price target on shares of Rexnord in a research report on Friday, October 4th. Robert W. Baird cut shares of Rexnord from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $29.00 in a research report on Tuesday, September 3rd. Finally, Deutsche Bank initiated coverage on shares of Rexnord in a research report on Wednesday, August 14th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Rexnord currently has a consensus rating of “Hold” and an average target price of $29.00.
In other Rexnord news, insider Craig Wehr sold 5,671 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.60, for a total transaction of $173,532.60. Following the completion of the sale, the insider now owns 14,168 shares of the company’s stock, valued at approximately $433,540.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Peterson sold 115,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.65, for a total transaction of $3,524,750.00. Following the sale, the chief financial officer now directly owns 161,576 shares of the company’s stock, valued at approximately $4,952,304.40. The disclosure for this sale can be found here. Insiders have sold a total of 122,085 shares of company stock valued at $3,742,852 in the last three months. 5.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Rexnord by 2.0% in the 2nd quarter. BlackRock Inc. now owns 8,031,257 shares of the industrial products company’s stock worth $242,704,000 after purchasing an additional 160,009 shares during the period. Impax Asset Management Group plc lifted its position in shares of Rexnord by 5.7% in the 2nd quarter. Impax Asset Management Group plc now owns 4,290,017 shares of the industrial products company’s stock worth $129,644,000 after purchasing an additional 231,562 shares during the period. Wells Fargo & Company MN lifted its position in shares of Rexnord by 4.4% in the 2nd quarter. Wells Fargo & Company MN now owns 2,514,920 shares of the industrial products company’s stock worth $76,000,000 after purchasing an additional 106,454 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Rexnord by 28.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,392,160 shares of the industrial products company’s stock worth $72,292,000 after purchasing an additional 534,335 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in shares of Rexnord by 2.4% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,048,900 shares of the industrial products company’s stock worth $55,423,000 after purchasing an additional 48,833 shares during the period.
Shares of RXN stock traded down $0.20 on Friday, hitting $30.24. 484,000 shares of the company’s stock traded hands, compared to its average volume of 741,552. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.94 and a current ratio of 2.94. Rexnord has a one year low of $21.38 and a one year high of $31.80. The company’s fifty day simple moving average is $27.98 and its 200 day simple moving average is $27.98. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.74 and a beta of 1.58.
Rexnord Company Profile
Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.
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