Rexnord Corp (RXN) Releases FY15 Earnings Guidance
Rexnord Corp (NYSE:RXN) updated its FY15 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.69, American Banking News.com reports. Rexnord Corp also updated its Q1 guidance to $0.24-0.26 EPS.
Several analysts have recently commented on the stock. Analysts at Bank of America downgraded shares of Rexnord Corp from a neutral rating to an underperform rating in a research note on Wednesday, April 23rd. They now have a $29.00 price target on the stock. They noted that the move was a valuation call. Analysts at Zacks reiterated a neutral rating on shares of Rexnord Corp in a research note on Tuesday, February 25th. They now have a $31.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $27.00.
Rexnord Corp (NYSE:RXN) traded down 1.19% during mid-day trading on Wednesday, hitting $26.60. 361,161 shares of the company’s stock traded hands. Rexnord Corp has a 52-week low of $15.88 and a 52-week high of $30.94. The stock has a 50-day moving average of $27.45 and a 200-day moving average of $27.05. The company has a market cap of $2.607 billion and a P/E ratio of 185.66.
Rexnord Corp (NYSE:RXN) last released its earnings data on Wednesday, May 21st. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.47 by $0.08. The company had revenue of $569.70 million for the quarter, compared to the consensus estimate of $582.77 million. Rexnord Corp’s revenue was up 5.4% compared to the same quarter last year. Analysts expect that Rexnord Corp will post $1.36 EPS for the current fiscal year.
Rexnord Corporation (NYSE:RXN), formerly Rexnord Holdings, Inc, is a multi-platform industrial company.
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