Rexnord Corporation (NYSE:RXN) – Investment analysts at Oppenheimer Holdings raised their FY2018 earnings estimates for Rexnord Corporation in a note issued to investors on Thursday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the industrial products company will post earnings of $1.25 per share for the year, up from their prior forecast of $1.20. Oppenheimer Holdings has a “Hold” rating on the stock.

Rexnord Corporation (NYSE:RXN) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The business had revenue of $487.70 million for the quarter, compared to analyst estimates of $484.20 million. During the same quarter last year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis.

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Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Janney Montgomery Scott began 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. Zacks Investment Research raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, TheStreet raised shares of Rexnord Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. One investment 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 stock presently has a consensus rating of “Hold” and an average target price of $24.80.

Rexnord Corporation (NYSE:RXN) traded down 1.13% on Monday, hitting $24.43. 306,658 shares of the company were exchanged. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 37.02 and a beta of 1.63. The stock has a 50 day moving average price of $23.44 and a 200 day moving average price of $23.07. Rexnord Corporation has a one year low of $15.80 and a one year high of $25.50.

Several large investors have recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of Rexnord Corporation by 11.9% in the second quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock valued at $227,000 after buying an additional 1,043 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Rexnord Corporation by 12.9% in the first quarter. Alambic Investment Management L.P. now owns 11,400 shares of the industrial products company’s stock valued at $263,000 after buying an additional 1,300 shares in the last quarter. Perigon Wealth Management LLC increased its stake in shares of Rexnord Corporation by 14.2% in the first quarter. Perigon Wealth Management LLC now owns 10,589 shares of the industrial products company’s stock valued at $244,000 after buying an additional 1,320 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Rexnord Corporation by 1.8% in the first quarter. Principal Financial Group Inc. now owns 99,776 shares of the industrial products company’s stock valued at $2,303,000 after buying an additional 1,732 shares in the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Rexnord Corporation by 6.7% in the first quarter. Gabelli Funds LLC now owns 32,000 shares of the industrial products company’s stock valued at $739,000 after buying an additional 2,000 shares in 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.

Earnings History and Estimates for Rexnord Corporation (NYSE:RXN)

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