Analysts Anticipate Rexnord Corp (NYSE:RXN) to Announce $0.44 Earnings Per Share

Wall Street brokerages expect that Rexnord Corp (NYSE:RXN) will report earnings per share of $0.44 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Rexnord’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.42. Rexnord posted earnings per share of $0.41 in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The company is scheduled to report its next earnings report on Monday, July 29th.

On average, analysts expect that Rexnord will report full year earnings of $1.95 per share for the current year, with EPS estimates ranging from $1.90 to $2.01. For the next financial year, analysts anticipate that the business will report earnings of $2.17 per share, with EPS estimates ranging from $2.05 to $2.28. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Rexnord.

Rexnord (NYSE:RXN) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.04. Rexnord had a net margin of 1.68% and a return on equity of 19.22%. The firm had revenue of $537.50 million for the quarter, compared to analyst estimates of $543.89 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded shares of Rexnord from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.63.

In other news, CEO Todd A. Adams sold 30,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $28.00, for a total transaction of $840,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,792 shares of the company’s stock, valued at $5,930,176. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Patricia M. Whaley sold 1,226 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $26.57, for a total transaction of $32,574.82. Following the sale, the general counsel now directly owns 66,336 shares of the company’s stock, valued at $1,762,547.52. The disclosure for this sale can be found here. Insiders have sold 334,621 shares of company stock worth $9,284,075 in the last quarter. Company insiders own 4.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. FMR LLC grew its position in Rexnord by 18.7% in the 4th quarter. FMR LLC now owns 8,153,115 shares of the industrial products company’s stock worth $187,114,000 after purchasing an additional 1,285,223 shares in the last quarter. Norges Bank bought a new stake in Rexnord in the 4th quarter worth about $26,209,000. Goldman Sachs Group Inc. grew its position in Rexnord by 27.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,317,103 shares of the industrial products company’s stock worth $108,532,000 after purchasing an additional 927,494 shares in the last quarter. TimesSquare Capital Management LLC grew its position in Rexnord by 65.1% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,947,167 shares of the industrial products company’s stock worth $48,952,000 after purchasing an additional 767,520 shares in the last quarter. Finally, BlackRock Inc. grew its position in Rexnord by 6.2% in the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock worth $180,451,000 after purchasing an additional 456,769 shares in the last quarter.

Shares of NYSE RXN traded down $0.19 during trading on Friday, hitting $28.55. 313,713 shares of the company traded hands, compared to its average volume of 567,417. Rexnord has a fifty-two week low of $21.38 and a fifty-two week high of $32.11. The firm has a market capitalization of $3.03 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.61 and a beta of 1.54. The company has a current ratio of 2.48, a quick ratio of 1.68 and a debt-to-equity ratio of 1.00.

Rexnord Company Profile

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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