Rexnord Llc (NYSE:RXN) – Research analysts at Oppenheimer issued their Q1 2019 earnings per share estimates for Rexnord in a note issued to investors on Tuesday, May 15th. Oppenheimer analyst J. Giannakouros forecasts that the industrial products company will post earnings per share of $0.34 for the quarter. Oppenheimer currently has a “Outperform” rating and a $33.00 price target on the stock. Oppenheimer also issued estimates for Rexnord’s Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.39 EPS, Q4 2019 earnings at $0.49 EPS, FY2019 earnings at $1.65 EPS and FY2020 earnings at $1.95 EPS.
A number of other equities analysts have also weighed in on RXN. Zacks Investment Research lowered shares of Rexnord from a “buy” rating to a “hold” rating in a report on Thursday. KeyCorp boosted their price objective on shares of Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. UBS upgraded shares of Rexnord from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 8th. ValuEngine upgraded shares of Rexnord from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, TheStreet upgraded shares of Rexnord from a “c+” rating to a “b” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.57.
Rexnord (NYSE:RXN) last announced its quarterly earnings data on Monday, May 14th. The industrial products company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Rexnord had a net margin of 3.67% and a return on equity of 13.38%. The company had revenue of $575.00 million during the quarter, compared to analyst estimates of $552.47 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank raised its stake in Rexnord by 2.4% during the 4th quarter. Swiss National Bank now owns 176,700 shares of the industrial products company’s stock valued at $4,598,000 after buying an additional 4,100 shares during the last quarter. Deutsche Bank AG grew its position in shares of Rexnord by 14.2% during the 4th quarter. Deutsche Bank AG now owns 1,166,112 shares of the industrial products company’s stock valued at $30,341,000 after acquiring an additional 144,791 shares during the period. Convergence Investment Partners LLC bought a new stake in shares of Rexnord during the 4th quarter valued at $3,225,000. Global X Management Co. LLC grew its position in shares of Rexnord by 75.3% during the 4th quarter. Global X Management Co. LLC now owns 7,194 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 3,090 shares during the period. Finally, Hudson Bay Capital Management LP grew its position in shares of Rexnord by 404.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 201,603 shares of the industrial products company’s stock valued at $5,246,000 after acquiring an additional 161,603 shares during the period.
Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, 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, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.
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