Zacks: Brokerages Expect Rexnord Corporation (RXN) Will Post Earnings of $0.32 Per Share
Brokerages expect Rexnord Corporation (NYSE:RXN) to post earnings per share (EPS) of $0.32 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Rexnord Corporation’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.35. Rexnord Corporation reported earnings per share of $0.38 during the same quarter last year, which indicates a negative year over year growth rate of 15.8%. The firm is scheduled to announce its next 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 $1.35. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.53 per share, with EPS estimates ranging from $1.38 to $1.65. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Rexnord Corporation.
Rexnord Corporation (NYSE:RXN) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $487.70 million for 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share.
A number of equities research analysts have recently issued reports on RXN shares. TheStreet upgraded shares of Rexnord Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Rexnord Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, April 10th. Janney Montgomery Scott started coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 target price on the stock. BidaskClub upgraded shares of Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rexnord Corporation in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Rexnord Corporation currently has an average rating of “Hold” and an average price target of $24.80.
Large investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Rexnord Corporation during the second quarter worth $139,000. US Bancorp DE increased its stake 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Rexnord Corporation during the first quarter worth $165,000. Karp Capital Management Corp acquired a new stake in shares of Rexnord Corporation during the first quarter worth $202,000. Finally, Aperio Group LLC increased its stake 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 in the last quarter.
Shares of Rexnord Corporation (NYSE RXN) traded down 0.28% during trading on Monday, hitting $24.89. The company’s stock had a trading volume of 30,614 shares. Rexnord Corporation has a 52 week low of $15.80 and a 52 week high of $25.01. The firm’s 50 day moving average price is $23.39 and its 200-day moving average price is $23.04. The company has a market cap of $2.58 billion, a PE ratio of 37.71 and a beta of 1.63.
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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