$0.50 Earnings Per Share Expected for Rexnord Co. (NYSE:RXN) This Quarter

Equities analysts expect that Rexnord Co. (NYSE:RXN) will post earnings of $0.50 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Rexnord’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.47. Rexnord reported earnings per share of $0.36 in the same quarter last year, which would suggest a positive year over year growth rate of 38.9%. The firm is scheduled to issue its next earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Rexnord will report full-year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.93 to $2.03. For the next year, analysts anticipate that the company will report earnings of $2.30 per share, with EPS estimates ranging from $2.23 to $2.40. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Rexnord.

Rexnord (NYSE:RXN) last announced its quarterly earnings data on Monday, April 26th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. Rexnord had a net margin of 7.97% and a return on equity of 16.83%.

Several equities analysts have weighed in on RXN shares. Vertical Research started coverage on shares of Rexnord in a report on Wednesday, January 20th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Rexnord from $54.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 10th. Finally, Robert W. Baird boosted their target price on shares of Rexnord from $54.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.60.

Shares of NYSE RXN opened at $50.65 on Friday. Rexnord has a 12-month low of $25.86 and a 12-month high of $52.78. The stock has a market cap of $6.06 billion, a PE ratio of 39.57, a P/E/G ratio of 2.71 and a beta of 1.43. The company has a current ratio of 2.82, a quick ratio of 1.83 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $49.41 and a 200 day moving average of $43.20.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 7th. Stockholders of record on Thursday, May 20th will be issued a $0.09 dividend. The ex-dividend date is Wednesday, May 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.71%. Rexnord’s dividend payout ratio is currently 17.91%.

In other news, CEO Todd A. Adams sold 9,558 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $50.14, for a total value of $479,238.12. Following the transaction, the chief executive officer now directly owns 541,980 shares in the company, valued at approximately $27,174,877.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Craig Wehr sold 2,182 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The stock was sold at an average price of $50.14, for a total transaction of $109,405.48. Following the completion of the transaction, the insider now owns 34,110 shares in the company, valued at $1,710,275.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,818 shares of company stock worth $793,115. Company insiders own 3.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RXN. Bessemer Group Inc. acquired a new stake in Rexnord during the 4th quarter worth approximately $25,000. CI Investments Inc. acquired a new stake in Rexnord during the 4th quarter worth approximately $26,000. Huntington National Bank lifted its holdings in Rexnord by 42.4% during the 4th quarter. Huntington National Bank now owns 840 shares of the industrial products company’s stock worth $33,000 after buying an additional 250 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Rexnord during the 4th quarter worth approximately $37,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Rexnord during the 1st quarter worth approximately $60,000. Institutional investors own 99.23% of the company’s stock.

About Rexnord

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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Earnings History and Estimates for Rexnord (NYSE:RXN)

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