Rexnord Co. (NYSE:RXN) – Oppenheimer lowered their Q2 2021 earnings per share (EPS) estimates for Rexnord in a research note issued on Monday, April 5th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $0.49 per share for the quarter, down from their prior forecast of $0.51.

Rexnord (NYSE:RXN) last posted its quarterly earnings data on Monday, February 15th. The industrial products company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Rexnord had a net margin of 7.97% and a return on equity of 16.83%. The firm had revenue of $490.40 million during the quarter, compared to analyst estimates of $468.01 million.

Several other research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Rexnord from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 17th. Vertical Research initiated coverage on shares of Rexnord in a research report on Wednesday, January 20th. They set a “buy” rating for the company. Zacks Investment Research downgraded shares of Rexnord from a “buy” rating to a “hold” rating and set a $47.00 price objective for the company. in a report on Thursday, January 14th. Finally, Robert W. Baird boosted their target price on shares of Rexnord from $43.00 to $52.00 in a research note on Wednesday, February 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $45.50.

RXN stock opened at $47.81 on Thursday. The company has a quick ratio of 1.83, a current ratio of 2.82 and a debt-to-equity ratio of 0.85. The firm has a market cap of $5.75 billion, a PE ratio of 37.35, a P/E/G ratio of 2.71 and a beta of 1.43. The business has a 50 day moving average of $47.55 and a 200-day moving average of $39.66. Rexnord has a 12-month low of $22.74 and a 12-month high of $51.54.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Friday, February 19th were paid a $0.09 dividend. This is an increase from Rexnord’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, February 18th. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. Rexnord’s dividend payout ratio (DPR) is presently 17.91%.

Several hedge funds have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its holdings in Rexnord by 0.9% in the 4th quarter. New York State Common Retirement Fund now owns 360,761 shares of the industrial products company’s stock worth $14,246,000 after buying an additional 3,247 shares during the period. Rhumbline Advisers lifted its position in shares of Rexnord by 14.5% during the fourth quarter. Rhumbline Advisers now owns 203,372 shares of the industrial products company’s stock worth $8,031,000 after acquiring an additional 25,746 shares in the last quarter. FIL Ltd boosted its holdings in shares of Rexnord by 6.1% in the fourth quarter. FIL Ltd now owns 1,291,059 shares of the industrial products company’s stock worth $50,984,000 after acquiring an additional 73,698 shares during the period. Brinker Capital Investments LLC purchased a new position in shares of Rexnord in the third quarter valued at $392,000. Finally, ProShare Advisors LLC raised its stake in shares of Rexnord by 78.3% during the 4th quarter. ProShare Advisors LLC now owns 26,703 shares of the industrial products company’s stock valued at $1,055,000 after purchasing an additional 11,730 shares during the period. Institutional investors own 99.23% of the company’s stock.

Rexnord Company Profile

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

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Earnings History and Estimates for Rexnord (NYSE:RXN)

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