Rexnord Corporation (RXN) Scheduled to Post Earnings on Wednesday
Rexnord Corporation (NYSE:RXN) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 1st. Analysts expect Rexnord Corporation to post earnings of $0.33 per share for the quarter.
Rexnord Corporation (NYSE:RXN) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $484.20 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, analysts expect Rexnord Corporation to post $1.27 EPS for the current fiscal year and $1.52 EPS for the next fiscal year.
Shares of Rexnord Corporation (RXN) opened at 25.94 on Wednesday. The stock’s 50 day moving average is $25.25 and its 200 day moving average is $23.96. Rexnord Corporation has a 1-year low of $15.80 and a 1-year high of $26.24. The company has a market cap of $2.69 billion, a P/E ratio of 39.30 and a beta of 1.63.
COPYRIGHT VIOLATION NOTICE: “Rexnord Corporation (RXN) Scheduled to Post Earnings on Wednesday” was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/25/rexnord-corporation-rxn-scheduled-to-post-earnings-on-wednesday.html.
RXN has been the subject of several analyst reports. Janney Montgomery Scott initiated coverage on shares of Rexnord Corporation in a research note on Friday, July 21st. They issued a “buy” rating and a $27.00 price target for the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Rexnord Corporation in a report on Thursday, September 28th. Zacks Investment Research lowered shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Robert W. Baird set a $27.00 price objective on shares of Rexnord Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, BidaskClub lowered shares of Rexnord Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Rexnord Corporation has a consensus rating of “Hold” and a consensus price target of $26.00.
In other news, insider Michael Troutman sold 22,914 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $24.15, for a total value of $553,373.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.50% of the company’s stock.
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.
Receive News & Ratings for Rexnord Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord Corporation and related companies with MarketBeat.com's FREE daily email newsletter.