Q2 2019 EPS Estimates for Rexnord Corporation Cut by SunTrust Banks (NYSE:RXN)
Rexnord Corporation (NYSE:RXN) – Equities research analysts at SunTrust Banks dropped their Q2 2019 earnings per share estimates for Rexnord Corporation in a research report issued on Friday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.42. SunTrust Banks also issued estimates for Rexnord Corporation’s Q4 2019 earnings at $0.47 EPS.
Rexnord Corporation (NYSE:RXN) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates of $484.20 million. During the same quarter last year, the business earned $0.35 earnings per share. Rexnord Corporation’s revenue was up 3.4% compared to the same quarter last year.
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Other equities research analysts also recently issued research reports about the company. TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Zacks Investment Research upgraded Rexnord Corporation from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Monday, April 10th. Janney Montgomery Scott started coverage on Rexnord Corporation in a report on Friday, July 21st. They set a “buy” rating and a $27.00 price target for the company. BidaskClub upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord Corporation in a report on Thursday, May 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Rexnord Corporation has an average rating of “Hold” and a consensus target price of $24.80.
Shares of Rexnord Corporation (RXN) opened at 24.85 on Monday. The company’s 50-day moving average is $23.39 and its 200-day moving average is $23.04. Rexnord Corporation has a 12 month low of $15.80 and a 12 month high of $25.00. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 37.65 and a beta of 1.63.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Rexnord Corporation during the second quarter worth about $139,000. US Bancorp DE increased its position in shares of Rexnord Corporation by 79.9% in the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock worth $141,000 after buying an additional 2,697 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Rexnord Corporation during the first quarter worth about $165,000. Karp Capital Management Corp acquired a new position in shares of Rexnord Corporation during the first quarter worth about $202,000. Finally, Aperio Group LLC increased its position in shares of Rexnord Corporation by 11.9% in the second quarter. Aperio Group LLC now owns 9,774 shares of the industrial products company’s stock worth $227,000 after buying an additional 1,043 shares during the period.
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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