Rexnord Corporation (NYSE:RXN) posted its quarterly earnings data on Wednesday. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, Bloomberg Earnings reports. The company had revenue of $510.80 million during the quarter, compared to analysts’ expectations of $505.75 million. Rexnord Corporation had a return on equity of 12.31% and a net margin of 4.45%. Rexnord Corporation’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share.
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In other news, insider Michael Troutman sold 22,914 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $24.15, for a total value of $553,373.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.50% of the company’s stock.
A number of analysts recently commented on RXN shares. Zacks Investment Research cut Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. 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 price objective for the company. BidaskClub cut Rexnord Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Robert W. Baird set a $27.00 price objective on Rexnord Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Rexnord Corporation presently has a consensus rating of “Hold” and a consensus price target of $26.00.
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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