Rexnord Corp (RXN) Expected to Post Earnings of $0.48 Per Share

Wall Street brokerages expect Rexnord Corp (NYSE:RXN) to post earnings of $0.48 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Rexnord’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.39. Rexnord posted earnings per share of $0.42 in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The company is expected to report its next earnings results on Monday, May 13th.

On average, analysts expect that Rexnord will report full-year earnings of $1.81 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.86. For the next year, analysts forecast that the business will post earnings of $1.98 per share, with EPS estimates ranging from $1.90 to $2.06. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Rexnord.

Rexnord (NYSE:RXN) last announced its earnings results on Wednesday, January 30th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.40 by $0.07. Rexnord had a positive return on equity of 18.32% and a negative net margin of 3.58%. The business had revenue of $485.00 million during the quarter, compared to the consensus estimate of $487.19 million. During the same period in the prior year, the business posted $0.37 earnings per share. Rexnord’s revenue was up 11.1% compared to the same quarter last year.

RXN has been the subject of several analyst reports. Zacks Investment Research downgraded Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Robert W. Baird set a $29.00 target price on Rexnord and gave the company a “buy” rating in a report on Friday, January 25th. Credit Suisse Group reaffirmed a “neutral” rating and set a $25.00 target price (down from $31.00) on shares of Rexnord in a report on Thursday, January 3rd. Barclays reaffirmed a “hold” rating and set a $30.00 target price on shares of Rexnord in a report on Friday, February 1st. Finally, Oppenheimer set a $35.00 target price on Rexnord and gave the company a “buy” rating in a report on Sunday, January 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.63.

Shares of NYSE RXN traded up $0.56 during mid-day trading on Tuesday, hitting $28.66. 618,119 shares of the company traded hands, compared to its average volume of 700,003. Rexnord has a 1 year low of $21.38 and a 1 year high of $32.11. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 0.92 and a beta of 1.52. The company has a quick ratio of 1.86, a current ratio of 2.87 and a debt-to-equity ratio of 1.11.

In other Rexnord news, Director David C. Longren purchased 3,500 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were purchased at an average cost of $26.50 per share, with a total value of $92,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd A. Adams sold 30,000 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $28.00, for a total value of $840,000.00. Following the transaction, the chief executive officer now directly owns 211,792 shares in the company, valued at $5,930,176. The disclosure for this sale can be found here. Insiders have sold 90,000 shares of company stock worth $2,493,300 over the last three months. 4.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Investors Research Corp raised its position in Rexnord by 5.0% during the fourth quarter. Investors Research Corp now owns 10,520 shares of the industrial products company’s stock valued at $241,000 after buying an additional 500 shares during the period. ClariVest Asset Management LLC raised its position in Rexnord by 0.8% during the fourth quarter. ClariVest Asset Management LLC now owns 78,900 shares of the industrial products company’s stock valued at $1,810,000 after buying an additional 600 shares during the period. Amalgamated Bank raised its position in Rexnord by 6.0% during the fourth quarter. Amalgamated Bank now owns 13,960 shares of the industrial products company’s stock valued at $320,000 after buying an additional 788 shares during the period. NJ State Employees Deferred Compensation Plan raised its position in Rexnord by 4.0% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 26,000 shares of the industrial products company’s stock valued at $597,000 after buying an additional 1,000 shares during the period. Finally, AdvisorNet Financial Inc acquired a new position in Rexnord during the fourth quarter valued at $25,000.

Rexnord Company Profile

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.

Recommended Story: Straddles

Get a free copy of the Zacks research report on Rexnord (RXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Rexnord (NYSE:RXN)

Receive News & Ratings for Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.