$529.95 Million in Sales Expected for Rexnord Corp (NYSE:RXN) This Quarter

Equities research analysts forecast that Rexnord Corp (NYSE:RXN) will report $529.95 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Rexnord’s earnings, with the highest sales estimate coming in at $536.00 million and the lowest estimate coming in at $523.89 million. Rexnord reported sales of $524.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 1%. The firm is scheduled to announce its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Rexnord will report full year sales of $2.09 billion for the current fiscal year, with estimates ranging from $2.08 billion to $2.10 billion. For the next financial year, analysts expect that the business will post sales of $2.16 billion, with estimates ranging from $2.14 billion to $2.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Rexnord.

Rexnord (NYSE:RXN) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.05. The business had revenue of $508.30 million during the quarter, compared to the consensus estimate of $515.98 million. Rexnord had a return on equity of 19.57% and a net margin of 3.97%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Rexnord from a “hold” rating to a “sell” rating and set a $32.00 price target for the company. in a research note on Monday, July 1st. Barclays restated a “hold” rating and set a $29.00 price target on shares of Rexnord in a research note on Friday, October 4th. Deutsche Bank assumed coverage on Rexnord in a research note on Wednesday, August 14th. They set a “hold” rating for the company. Robert W. Baird downgraded Rexnord from an “outperform” rating to a “neutral” rating and cut their price target for the company from $33.00 to $29.00 in a research note on Tuesday, September 3rd. Finally, Bank of America downgraded Rexnord from a “buy” rating to an “underperform” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.00.

Shares of Rexnord stock traded up $0.10 during trading hours on Thursday, reaching $25.88. 844,950 shares of the stock traded hands, compared to its average volume of 668,204. The company has a 50 day moving average price of $26.78 and a 200 day moving average price of $27.63. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.63 and a beta of 1.58. Rexnord has a one year low of $21.38 and a one year high of $30.60. The company has a quick ratio of 1.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.99.

A number of hedge funds have recently bought and sold shares of RXN. Geode Capital Management LLC boosted its stake in Rexnord by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,088,671 shares of the industrial products company’s stock worth $24,984,000 after purchasing an additional 67,705 shares during the period. First Trust Advisors LP raised its holdings in shares of Rexnord by 11.1% during the 1st quarter. First Trust Advisors LP now owns 385,010 shares of the industrial products company’s stock worth $9,679,000 after acquiring an additional 38,360 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Rexnord by 7.8% during the 1st quarter. Wells Fargo & Company MN now owns 2,408,466 shares of the industrial products company’s stock worth $60,549,000 after acquiring an additional 173,350 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Rexnord during the 1st quarter worth approximately $290,000. Finally, NumerixS Investment Technologies Inc raised its holdings in shares of Rexnord by 1,500.0% during the 1st quarter. NumerixS Investment Technologies Inc now owns 17,600 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 16,500 shares in the last quarter.

About Rexnord

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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