Rexnord Corp (NYSE:RXN) – Equities research analysts at Oppenheimer increased their Q3 2020 earnings per share (EPS) estimates for shares of Rexnord in a research note issued to investors on Sunday, January 12th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will post earnings of $0.43 per share for the quarter, up from their prior estimate of $0.42.

Rexnord (NYSE:RXN) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $521.30 million during the quarter, compared to analyst estimates of $524.39 million. Rexnord had a return on equity of 19.40% and a net margin of 8.56%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS.

Several other equities research analysts have also issued reports on the company. Barclays reiterated a “hold” rating and set a $29.00 price target on shares of Rexnord in a report on Friday, October 4th. Zacks Investment Research lowered Rexnord from a “hold” rating to a “sell” rating and set a $27.00 price target for the company. in a report on Friday, October 11th. Bank of America upgraded Rexnord from an “underperform” rating to a “buy” rating in a report on Tuesday, December 17th. Finally, Deutsche Bank lifted their price target on Rexnord from $31.00 to $33.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $30.60.

Shares of Rexnord stock opened at $32.99 on Wednesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 1.64. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.94 and a quick ratio of 1.94. Rexnord has a 52-week low of $23.66 and a 52-week high of $33.41. The stock has a 50-day simple moving average of $32.26 and a 200-day simple moving average of $29.13.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Polianta Ltd bought a new position in Rexnord in the 4th quarter worth approximately $1,112,000. State of Alaska Department of Revenue bought a new position in Rexnord in the 4th quarter worth approximately $49,000. California State Teachers Retirement System increased its position in Rexnord by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 164,097 shares of the industrial products company’s stock worth $4,439,000 after buying an additional 1,960 shares during the period. Neo Ivy Capital Management bought a new position in Rexnord in the 3rd quarter worth approximately $292,000. Finally, TimesSquare Capital Management LLC increased its position in 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 buying an additional 48,833 shares during the period.

In related news, insider Kevin J. Zaba sold 2,777 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $31.61, for a total value of $87,780.97. Following the transaction, the insider now directly owns 29,189 shares of the company’s stock, valued at approximately $922,664.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Craig Wehr sold 5,671 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.60, for a total value of $173,532.60. Following the completion of the transaction, the insider now directly owns 14,168 shares in the company, valued at $433,540.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,351 shares of company stock valued at $6,044,156. 5.00% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for Rexnord (NYSE:RXN)

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