Wall Street analysts forecast that Rexnord Corp (NYSE:RXN) will post earnings of $0.41 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Rexnord’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.38. Rexnord reported earnings per share of $0.32 during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Rexnord will report full-year earnings of $1.70 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.84. For the next financial year, analysts expect that the firm will report earnings of $1.96 per share, with EPS estimates ranging from $1.87 to $2.08. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Rexnord.
Rexnord (NYSE:RXN) last announced its quarterly earnings data on Monday, July 30th. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Rexnord had a net margin of 2.34% and a return on equity of 14.99%. The company had revenue of $503.60 million during the quarter, compared to the consensus estimate of $505.18 million. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was up 13.6% on a year-over-year basis.
Several brokerages recently commented on RXN. Oppenheimer lifted their target price on shares of Rexnord from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, June 22nd. Bank of America lifted their target price on shares of Rexnord from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, KeyCorp lifted their target price on shares of Rexnord from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.67.
Shares of RXN traded up $0.01 during midday trading on Friday, reaching $31.86. The stock had a trading volume of 1,956,475 shares, compared to its average volume of 704,082. Rexnord has a one year low of $22.89 and a one year high of $32.11. The company has a market cap of $3.29 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.14 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.40 and a quick ratio of 1.62.
Hedge funds have recently made changes to their positions in the stock. Moors & Cabot Inc. bought a new stake in Rexnord in the 1st quarter valued at about $200,000. Dynamic Technology Lab Private Ltd bought a new stake in Rexnord in the 1st quarter valued at about $208,000. US Bancorp DE boosted its holdings in Rexnord by 32.6% in the 1st quarter. US Bancorp DE now owns 8,095 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 1,992 shares during the period. SG Americas Securities LLC boosted its holdings in Rexnord by 22.3% in the 2nd quarter. SG Americas Securities LLC now owns 9,266 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 1,692 shares during the period. Finally, Element Capital Management LLC bought a new stake in Rexnord in the 1st quarter valued at about $272,000.
Rexnord Company Profile
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. It operates in two segments, Process & Motion Control Platform and Water Management Platform. The company offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chain, and custom assemblies; custom-engineered, application-specific miniature gearboxes, and motion control assemblies and components used in aerospace, defense, medical equipment, robotics, semiconductor, instrumentation, and satellite communications; and shaft management products, including couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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