Rexnord Corp (RXN) Expected to Announce Quarterly Sales of $481.58 Million

Wall Street analysts expect Rexnord Corp (NYSE:RXN) to report sales of $481.58 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Rexnord’s earnings. The highest sales estimate is $488.10 million and the lowest is $474.60 million. Rexnord posted sales of $451.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The firm is expected to announce its next 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 year, with estimates ranging from $1.99 billion to $2.03 billion. For the next financial year, analysts forecast that the business will report sales of $2.10 billion per share, with estimates ranging from $2.06 billion to $2.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Rexnord.

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

A number of brokerages recently weighed in on RXN. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a report on Monday, October 16th. TheStreet lowered shares of Rexnord from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. Finally, Oppenheimer restated a “hold” rating on shares of Rexnord in a report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Rexnord currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Shares of Rexnord (NYSE RXN) traded up $0.12 during midday trading on Thursday, reaching $26.34. 603,100 shares of the company were exchanged, compared to its average volume of 901,298. Rexnord has a 52 week low of $20.00 and a 52 week high of $26.52. The stock has a market cap of $2,740.00, a price-to-earnings ratio of 41.16, a P/E/G ratio of 2.07 and a beta of 1.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08.

Institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC raised its stake in Rexnord by 171.6% during the 2nd quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock valued at $129,000 after buying an additional 3,500 shares during the last quarter. Parametrica Management Ltd purchased a new stake in Rexnord during the 3rd quarter valued at $212,000. Teacher Retirement System of Texas purchased a new stake in Rexnord during the 3rd quarter valued at $219,000. Ameritas Investment Partners Inc. raised its stake in Rexnord by 27.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,142 shares of the industrial products company’s stock valued at $213,000 after buying an additional 1,981 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Rexnord during the 2nd quarter valued at $230,000.

ILLEGAL ACTIVITY WARNING: “Rexnord Corp (RXN) Expected to Announce Quarterly Sales of $481.58 Million” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/04/rexnord-corp-rxn-expected-to-announce-quarterly-sales-of-481-58-million.html.

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.

Get a free copy of the Zacks research report on Rexnord (RXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply