Equities research analysts forecast that Rexnord Corporation (NYSE:RXN) will post earnings per share (EPS) of $0.32 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Rexnord Corporation’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.35. Rexnord Corporation posted earnings per share of $0.38 in the same quarter last year, which indicates a negative year-over-year growth rate of 15.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Rexnord Corporation will report full-year earnings of $1.27 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $1.32. For the next financial year, analysts forecast that the business will post earnings of $1.53 per share, with EPS estimates ranging from $1.38 to $1.63. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Rexnord Corporation.
Rexnord Corporation (NYSE:RXN) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $484.20 million. Rexnord Corporation had a return on equity of 14.27% and a net margin of 4.22%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share.
Several research analysts recently issued reports on RXN shares. Janney Montgomery Scott started coverage on Rexnord Corporation in a research report on Friday, July 21st. They set a “buy” rating and a $27.00 price objective for the company. TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Zacks Investment Research raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 22nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rexnord Corporation in a research note on Thursday, May 18th. Finally, BidaskClub raised shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $26.00.
Shares of Rexnord Corporation (NYSE:RXN) opened at 24.94 on Wednesday. Rexnord Corporation has a 52-week low of $15.80 and a 52-week high of $25.50. The stock has a 50 day moving average price of $23.91 and a 200-day moving average price of $23.42. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 37.79 and a beta of 1.68.
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In other news, insider Michael Troutman sold 22,914 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $24.15, for a total transaction of $553,373.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Perigon Wealth Management LLC grew its stake in shares of Rexnord Corporation by 28.1% during the 2nd quarter. Perigon Wealth Management LLC now owns 13,564 shares of the industrial products company’s stock valued at $315,000 after buying an additional 2,975 shares during the period. Verition Fund Management LLC grew its stake in shares of Rexnord Corporation by 3.2% during the 2nd quarter. Verition Fund Management LLC now owns 20,939 shares of the industrial products company’s stock valued at $487,000 after buying an additional 641 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Rexnord Corporation by 27.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after buying an additional 1,981 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Rexnord Corporation during the 2nd quarter valued at $328,000. Finally, DF Dent & Co. Inc. purchased a new stake in shares of Rexnord Corporation during the 2nd quarter valued at $411,000.
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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