$544.72 Million in Sales Expected for Rexnord Corp (RXN) This Quarter
Equities research analysts expect that Rexnord Corp (NYSE:RXN) will post sales of $544.72 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Rexnord’s earnings, with the highest sales estimate coming in at $548.00 million and the lowest estimate coming in at $541.00 million. Rexnord posted sales of $503.60 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.2%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, May 16th.
On average, analysts expect that Rexnord will report full-year sales of $544.72 million for the current financial year, with estimates ranging from $2.02 billion to $2.04 billion. For the next financial year, analysts forecast that the business will post sales of $2.16 billion per share, with estimates ranging from $2.13 billion to $2.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Rexnord.
Rexnord (NYSE:RXN) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. Rexnord had a return on equity of 13.05% and a net margin of 8.29%. The company had revenue of $492.30 million during the quarter, compared to the consensus estimate of $479.66 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC increased its holdings in Rexnord by 96.0% during the 4th quarter. Citadel Advisors LLC now owns 193,237 shares of the industrial products company’s stock valued at $5,028,000 after purchasing an additional 94,659 shares in the last quarter. BlackRock Inc. increased its holdings in Rexnord by 14.5% during the 4th quarter. BlackRock Inc. now owns 8,162,025 shares of the industrial products company’s stock valued at $212,376,000 after purchasing an additional 1,031,304 shares in the last quarter. Suffolk Capital Management LLC increased its holdings in Rexnord by 159.1% during the 4th quarter. Suffolk Capital Management LLC now owns 40,271 shares of the industrial products company’s stock valued at $1,048,000 after purchasing an additional 24,727 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Rexnord during the 4th quarter valued at $814,000. Finally, State of Wisconsin Investment Board increased its holdings in Rexnord by 7.7% during the 4th quarter. State of Wisconsin Investment Board now owns 334,000 shares of the industrial products company’s stock valued at $8,691,000 after purchasing an additional 24,000 shares in the last quarter.
Shares of Rexnord (RXN) traded up $0.10 on Tuesday, hitting $26.81. The stock had a trading volume of 1,052,947 shares, compared to its average volume of 863,064. Rexnord has a fifty-two week low of $21.51 and a fifty-two week high of $31.44. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.58 and a current ratio of 2.49. The firm has a market cap of $2,787.68, a PE ratio of 20.47, a PEG ratio of 2.02 and a beta of 1.77.
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Rexnord 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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