Zacks: Analysts Expect Rexnord Corporation (RXN) Will Announce Earnings of $0.28 Per Share
Brokerages expect Rexnord Corporation (NYSE:RXN) to post $0.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Rexnord Corporation’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.31. Rexnord Corporation posted earnings of $0.25 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The company is expected to announce its next earnings results on Wednesday, February 7th.
On average, analysts expect that Rexnord Corporation will report full-year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.32. For the next year, analysts forecast that the company will report earnings of $1.53 per share, with EPS estimates ranging from $1.38 to $1.66. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Rexnord Corporation.
Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Rexnord Corporation had a return on equity of 12.03% and a net margin of 4.45%. The firm had revenue of $510.80 million for the quarter, compared to the consensus estimate of $505.75 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.
Several research analysts recently issued reports on RXN shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Rexnord Corporation in a research note on Thursday, September 28th. BidaskClub cut Rexnord Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Robert W. Baird set a $27.00 price objective on Rexnord Corporation and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Janney Montgomery Scott started coverage on Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $26.00.
In related news, insider Michael Troutman sold 22,914 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $24.15, for a total value of $553,373.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. DF Dent & Co. Inc. bought a new stake in Rexnord Corporation during the 2nd quarter valued at $411,000. US Bancorp DE boosted its position in Rexnord Corporation by 79.9% during the 2nd quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 2,697 shares in the last quarter. Cipher Capital LP boosted its position in Rexnord Corporation by 4.7% during the 2nd quarter. Cipher Capital LP now owns 103,587 shares of the industrial products company’s stock valued at $2,409,000 after acquiring an additional 4,613 shares in the last quarter. BlackRock Inc. boosted its position in Rexnord Corporation by 14.4% during the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock valued at $163,374,000 after acquiring an additional 883,165 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Rexnord Corporation during the 2nd quarter valued at $312,466,000.
Shares of Rexnord Corporation (RXN) traded down $0.24 during midday trading on Thursday, hitting $24.10. The stock had a trading volume of 1,224,000 shares, compared to its average volume of 958,145. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. Rexnord Corporation has a 12-month low of $19.32 and a 12-month high of $26.24. The stock has a market capitalization of $2,504.59, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.92 and a beta of 1.65.
About Rexnord Corporation
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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