Rexnord Corp (RXN) Releases Q1 Earnings Guidance
Rexnord Corp (NYSE:RXN) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.24-0.26 for the period, compared to the Thomson Reuters consensus estimate of $0.34, American Banking & Market News reports. The company issued revenue guidance of $500-510 million, compared to the consensus revenue estimate of $549.25 million.Rexnord Corp also updated its FY15 guidance to $1.60-1.70 EPS.
A number of research firms have recently commented on RXN. 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price 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 one year low of $15.88 and a one year high of $30.94. The stock’s 50-day moving average is $27.45 and its 200-day moving average is $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 issued its quarterly earnings data on Wednesday, May 21st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that Rexnord Corp will post $1.36 earnings per share for the current fiscal year.
Rexnord Corporation (NYSE:RXN), formerly Rexnord Holdings, Inc, is a multi-platform industrial company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.