Zacks: Analysts Anticipate Rexnord Corporation (RXN) to Post $0.28 EPS
Wall Street analysts predict that Rexnord Corporation (NYSE:RXN) will report $0.28 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Rexnord Corporation’s earnings, with estimates ranging from $0.26 to $0.31. Rexnord Corporation reported earnings per share of $0.25 in the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The company is expected to report its next quarterly earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Rexnord Corporation will report full year earnings of $1.26 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.32. For the next financial year, analysts anticipate that the firm will post earnings of $1.53 per share, with EPS estimates ranging from $1.38 to $1.66. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Rexnord Corporation.
Rexnord Corporation (NYSE:RXN) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $510.80 million during the quarter, compared to analysts’ expectations of $505.75 million. Rexnord Corporation had a return on equity of 12.03% and a net margin of 4.45%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share.
Several equities research analysts recently issued reports on RXN shares. Janney Montgomery Scott initiated coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 target price for the company. Robert W. Baird set a $27.00 target price on shares of Rexnord Corporation and gave the stock a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. BidaskClub cut shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Rexnord Corporation has an average rating of “Hold” and a consensus price target of $26.00.
In related news, insider Michael Troutman sold 22,914 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Manchester Capital Management LLC grew its position in Rexnord Corporation by 171.6% in the 2nd quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 3,500 shares in the last quarter. Strs Ohio acquired a new position in Rexnord Corporation during the second quarter worth $139,000. US Bancorp DE boosted its position in Rexnord Corporation by 79.9% during the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 2,697 shares in the last quarter. MUFG Americas Holdings Corp purchased a new stake in shares of Rexnord Corporation in the second quarter valued at $211,000. Finally, Parametrica Management Ltd acquired a new stake in Rexnord Corporation during the third quarter worth about $212,000.
Shares of Rexnord Corporation (NYSE:RXN) traded down $0.15 during midday trading on Thursday, reaching $23.95. 561,700 shares of the company were exchanged, compared to its average volume of 906,146. Rexnord Corporation has a 12-month low of $19.32 and a 12-month high of $26.24. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. The firm has a market cap of $2,504.59, a price-to-earnings ratio of 20.25, a PEG ratio of 1.92 and a beta of 1.65.
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Rexnord Corporation Company Profile
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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