Wall Street analysts expect Rexnord Llc (NYSE:RXN) to announce earnings of $0.37 per share for the current quarter, according to Zacks. Four analysts have issued estimates for Rexnord’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.40. Rexnord posted earnings per share of $0.27 during the same quarter last year, which indicates a positive year over year growth rate of 37%. The business is expected to issue its next earnings report on Wednesday, August 1st.
On average, analysts expect that Rexnord will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.61 to $1.90. For the next fiscal year, analysts expect that the business will report earnings of $1.97 per share, with EPS estimates ranging from $1.85 to $2.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Rexnord.
Rexnord (NYSE:RXN) last released its quarterly earnings data on Monday, May 14th. The industrial products company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Rexnord had a return on equity of 13.38% and a net margin of 3.67%. The business had revenue of $575.00 million for the quarter, compared to analyst estimates of $552.47 million. During the same period last year, the firm posted $0.35 earnings per share. Rexnord’s revenue was up 14.1% compared to the same quarter last year.
RXN has been the topic of a number of recent research reports. TheStreet raised Rexnord from a “c+” rating to a “b” rating in a research note on Friday, January 26th. Deutsche Bank set a $33.00 price target on Rexnord and gave the company a “buy” rating in a research note on Friday, January 19th. ValuEngine raised Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Barclays initiated coverage on Rexnord in a research note on Thursday, February 15th. They set an “equal weight” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research lowered Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.57.
Shares of RXN stock opened at $28.72 on Friday. Rexnord has a 12 month low of $28.35 and a 12 month high of $28.83. The stock has a market cap of $2.99 billion, a PE ratio of 20.66, a PEG ratio of 1.33 and a beta of 1.64. The company has a current ratio of 2.20, a quick ratio of 1.58 and a debt-to-equity ratio of 1.11.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Rexnord by 5.7% in the first quarter. BlackRock Inc. now owns 8,629,683 shares of the industrial products company’s stock worth $256,129,000 after acquiring an additional 467,658 shares during the period. Impax Asset Management LTD lifted its stake in shares of Rexnord by 14.9% in the fourth quarter. Impax Asset Management LTD now owns 3,682,376 shares of the industrial products company’s stock worth $95,815,000 after acquiring an additional 478,604 shares during the period. Channing Capital Management LLC lifted its stake in shares of Rexnord by 18.4% in the fourth quarter. Channing Capital Management LLC now owns 2,817,990 shares of the industrial products company’s stock worth $73,335,000 after acquiring an additional 438,205 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Rexnord by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,765,142 shares of the industrial products company’s stock worth $82,069,000 after acquiring an additional 93,859 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Rexnord by 36.1% in the first quarter. Wells Fargo & Company MN now owns 2,056,105 shares of the industrial products company’s stock worth $61,025,000 after acquiring an additional 545,897 shares during the period.
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, 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, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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