Rexnord Corporation (NYSE:RXN) – SunTrust Banks decreased their Q2 2019 earnings per share estimates for Rexnord Corporation in a report released on Friday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings of $0.41 per share for the quarter, down from their prior forecast of $0.42. SunTrust Banks also issued estimates for Rexnord Corporation’s Q4 2019 earnings at $0.47 EPS.
Rexnord Corporation (NYSE:RXN) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $487.70 million during the quarter, compared to the consensus estimate of $484.20 million. Rexnord Corporation had a net margin of 4.22% and a return on equity of 14.27%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS.
Several other brokerages have also recently commented on RXN. BidaskClub raised Rexnord Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, May 18th. Janney Montgomery Scott started coverage on Rexnord Corporation in a research report on Friday, July 21st. They set a “buy” rating and a $27.00 target price for the company. Zacks Investment Research raised Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, TheStreet upgraded Rexnord Corporation from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.80.
Rexnord Corporation (NYSE RXN) traded up 0.85% during trading on Monday, reaching $24.86. 209,224 shares of the company’s stock traded hands. The company has a 50-day moving average of $23.39 and a 200 day moving average of $23.04. The stock has a market capitalization of $2.58 billion, a P/E ratio of 37.67 and a beta of 1.63. Rexnord Corporation has a 12 month low of $15.80 and a 12 month high of $25.08.
A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rexnord Corporation by 102.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 241,807 shares of the industrial products company’s stock worth $5,581,000 after buying an additional 122,080 shares during the period. Bank of New York Mellon Corp raised its stake in Rexnord Corporation by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 601,852 shares of the industrial products company’s stock worth $13,891,000 after buying an additional 241,772 shares in the last quarter. GCA Investment Management LLC acquired a new stake in Rexnord Corporation during the first quarter worth approximately $10,026,000. American Century Companies Inc. raised its stake in Rexnord Corporation by 3.1% in the first quarter. American Century Companies Inc. now owns 573,098 shares of the industrial products company’s stock worth $13,227,000 after buying an additional 17,463 shares in the last quarter. Finally, Channing Capital Management LLC acquired a new stake in Rexnord Corporation during the first quarter worth approximately $49,056,000.
Rexnord Corporation Company Profile
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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