Research Analysts Set Expectations for Rexnord Corporation’s Q3 2018 Earnings (RXN)
Rexnord Corporation (NYSE:RXN) – Analysts at KeyCorp issued their Q3 2018 earnings estimates for Rexnord Corporation in a report issued on Wednesday. KeyCorp analyst J. Hammond forecasts that the industrial products company will post earnings per share of $0.26 for the quarter. KeyCorp also issued estimates for Rexnord Corporation’s Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.23 EPS.
Other equities analysts have also recently issued reports about the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, September 28th. Zacks Investment Research upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. BidaskClub cut shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Robert W. Baird set a $27.00 price target on shares of Rexnord Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Janney Montgomery Scott started coverage on shares of Rexnord Corporation in a research report on Friday, July 21st. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $26.00.
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Shares of Rexnord Corporation (NYSE RXN) traded down $0.29 during trading hours on Monday, reaching $25.03. 708,760 shares of the company traded hands, compared to its average volume of 950,732. The company has a market cap of $2,631.38, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.03 and a beta of 1.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. Rexnord Corporation has a fifty-two week low of $17.00 and a fifty-two week high of $26.24.
Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Rexnord Corporation had a net margin of 4.45% and a return on equity of 12.03%. The company had revenue of $510.80 million during the quarter, compared to the consensus estimate of $505.75 million. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RXN. Karp Capital Management Corp bought a new position in shares of Rexnord Corporation during the first quarter valued at about $202,000. Principal Financial Group Inc. raised its position in Rexnord Corporation by 1.8% in the first quarter. Principal Financial Group Inc. now owns 99,776 shares of the industrial products company’s stock worth $2,303,000 after acquiring an additional 1,732 shares during the period. Vanguard Group Inc. raised its position in Rexnord Corporation by 6.3% in the first quarter. Vanguard Group Inc. now owns 8,282,119 shares of the industrial products company’s stock worth $191,151,000 after acquiring an additional 487,513 shares during the period. Geode Capital Management LLC raised its position in Rexnord Corporation by 4.5% in the first quarter. Geode Capital Management LLC now owns 747,655 shares of the industrial products company’s stock worth $17,255,000 after acquiring an additional 32,012 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Rexnord Corporation by 6.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,504,340 shares of the industrial products company’s stock worth $57,800,000 after acquiring an additional 145,136 shares during the period.
In other Rexnord Corporation news, insider Michael Troutman sold 22,914 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.15, for a total value of $553,373.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.
About Rexnord Corporation
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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