Oppenheimer Holdings Research Analysts Reduce Earnings Estimates for Rexnord Corporation (NYSE:RXN)
Rexnord Corporation (NYSE:RXN) – Investment analysts at Oppenheimer Holdings reduced their Q3 2018 EPS estimates for Rexnord Corporation in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the industrial products company will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.27. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Rexnord Corporation’s Q4 2018 earnings at $0.42 EPS and FY2019 earnings at $1.45 EPS.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. TheStreet upgraded shares of Rexnord Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Janney Montgomery Scott initiated coverage on shares of Rexnord Corporation in a research report on Friday, July 21st. They set a “buy” rating and a $27.00 target price for the company. Finally, BidaskClub upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $24.80.
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Shares of Rexnord Corporation (NYSE:RXN) traded up 1.34% during trading on Friday, hitting $24.96. 658,448 shares of the stock traded hands. The stock has a 50-day moving average of $23.39 and a 200 day moving average of $23.04. Rexnord Corporation has a 1-year low of $15.80 and a 1-year high of $25.50. The company has a market cap of $2.59 billion, a P/E ratio of 37.82 and a beta of 1.63.
Rexnord Corporation (NYSE:RXN) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $484.20 million. Rexnord Corporation had a net margin of 4.22% and a return on equity of 15.08%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS.
A number of large investors have recently made changes to their positions in RXN. AQR Capital Management LLC raised its stake in shares of Rexnord Corporation by 6.4% in the fourth quarter. AQR Capital Management LLC now owns 80,396 shares of the industrial products company’s stock valued at $1,575,000 after buying an additional 4,869 shares during the last quarter. Norges Bank bought a new stake in shares of Rexnord Corporation during the fourth quarter valued at about $19,414,000. Quadrature Capital Ltd bought a new stake in shares of Rexnord Corporation during the fourth quarter valued at about $967,000. UBS Asset Management Americas Inc. raised its stake in shares of Rexnord Corporation by 6.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,550,311 shares of the industrial products company’s stock valued at $30,371,000 after buying an additional 91,039 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Rexnord Corporation by 19.5% in the fourth quarter. Teachers Advisors LLC now owns 172,309 shares of the industrial products company’s stock valued at $3,376,000 after buying an additional 28,069 shares during the last quarter.
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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