Brokerages Expect Rexnord Corp (NYSE:RXN) to Announce $0.42 EPS

Wall Street analysts expect that Rexnord Corp (NYSE:RXN) will post $0.42 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rexnord’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.39. Rexnord reported earnings of $0.47 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 10.6%. The business is expected to report its next earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that Rexnord will report full-year earnings of $1.95 per share for the current year, with EPS estimates ranging from $1.91 to $1.98. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.15 per share, with EPS estimates ranging from $2.05 to $2.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Rexnord.

Rexnord (NYSE:RXN) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The firm had revenue of $521.30 million for the quarter, compared to analyst estimates of $524.39 million. Rexnord had a return on equity of 19.40% and a net margin of 8.56%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share.

A number of analysts recently commented on RXN shares. Barclays reaffirmed a “hold” rating and issued a $29.00 target price on shares of Rexnord in a research report on Friday, October 4th. Deutsche Bank upped their price target on Rexnord from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Wednesday. Robert W. Baird lowered Rexnord from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $29.00 in a report on Tuesday, September 3rd. Finally, Zacks Investment Research cut Rexnord from a “hold” rating to a “sell” rating and set a $27.00 price objective for the company. in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.67.

In other Rexnord news, insider Michael Troutman sold 1,414 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $31.52, for a total value of $44,569.28. Following the completion of the sale, the insider now owns 30,695 shares in the company, valued at approximately $967,506.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Patricia M. Whaley sold 35,000 shares of Rexnord stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $31.51, for a total transaction of $1,102,850.00. Following the transaction, the general counsel now directly owns 96,716 shares in the company, valued at approximately $3,047,521.16. The disclosure for this sale can be found here. Insiders sold a total of 183,574 shares of company stock valued at $5,630,875 over the last three months. 5.00% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in shares of Rexnord by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 164,097 shares of the industrial products company’s stock worth $4,439,000 after purchasing an additional 1,960 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Rexnord in the 3rd quarter worth approximately $292,000. TimesSquare Capital Management LLC lifted its stake in Rexnord by 2.4% in the third quarter. TimesSquare Capital Management LLC now owns 2,048,900 shares of the industrial products company’s stock valued at $55,423,000 after purchasing an additional 48,833 shares during the last quarter. Boston Advisors LLC lifted its stake in Rexnord by 49.0% in the third quarter. Boston Advisors LLC now owns 77,813 shares of the industrial products company’s stock valued at $2,105,000 after purchasing an additional 25,579 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Rexnord by 29.2% during the third quarter. First Trust Advisors LP now owns 522,816 shares of the industrial products company’s stock valued at $14,142,000 after purchasing an additional 118,205 shares during the period.

RXN stock opened at $31.69 on Friday. The stock has a market capitalization of $3.30 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.63. The company’s 50-day moving average is $29.85 and its 200-day moving average is $28.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.94 and a quick ratio of 1.94. Rexnord has a 1 year low of $21.38 and a 1 year high of $32.00.

About Rexnord

Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.

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Earnings History and Estimates for Rexnord (NYSE:RXN)

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