Analysts Anticipate Rexnord Corp (RXN) Will Announce Quarterly Sales of $481.58 Million

Analysts expect Rexnord Corp (NYSE:RXN) to report sales of $481.58 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Rexnord’s earnings, with the highest sales estimate coming in at $488.10 million and the lowest estimate coming in at $474.60 million. Rexnord reported sales of $451.80 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The firm is expected to report its next quarterly earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that Rexnord will report full year sales of $481.58 million for the current fiscal year, with estimates ranging from $1.99 billion to $2.03 billion. For the next financial year, analysts expect that the company will post sales of $2.10 billion per share, with estimates ranging from $2.06 billion to $2.13 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Rexnord.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Rexnord had a return on equity of 12.03% and a net margin of 4.45%. The company had revenue of $510.80 million during the quarter, compared to analysts’ expectations of $505.75 million. During the same period last year, the business posted $0.38 EPS. Rexnord’s revenue for the quarter was up 4.0% on a year-over-year basis.

RXN has been the topic of a number of analyst reports. Robert W. Baird set a $27.00 price target on Rexnord and gave the company a “buy” rating in a research report on Thursday, August 24th. TheStreet lowered Rexnord from a “b-” rating to a “c+” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised Rexnord from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Rexnord in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its position in shares of Rexnord by 5.5% during the 3rd quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock worth $360,250,000 after acquiring an additional 738,129 shares in the last quarter. BlackRock Inc. raised its position in shares of Rexnord by 14.4% during the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock worth $163,374,000 after acquiring an additional 883,165 shares in the last quarter. Impax Asset Management LTD raised its position in shares of Rexnord by 4.1% during the 3rd quarter. Impax Asset Management LTD now owns 3,203,772 shares of the industrial products company’s stock worth $81,408,000 after acquiring an additional 125,327 shares in the last quarter. Capital World Investors raised its position in shares of Rexnord by 3.4% during the 2nd quarter. Capital World Investors now owns 3,000,000 shares of the industrial products company’s stock worth $69,750,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Rexnord by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,665,666 shares of the industrial products company’s stock worth $67,735,000 after acquiring an additional 73,216 shares in the last quarter.

Shares of Rexnord (NYSE:RXN) traded up $0.40 during trading on Monday, reaching $24.36. The company had a trading volume of 1,400,500 shares, compared to its average volume of 916,661. The company has a quick ratio of 2.23, a current ratio of 3.08 and a debt-to-equity ratio of 1.37. The stock has a market cap of $2,531.09, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.65. Rexnord has a 12 month low of $19.32 and a 12 month high of $26.24.

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About Rexnord

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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Earnings History and Estimates for Rexnord (NYSE:RXN)

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