Brokerages Anticipate Rexnord Corp (RXN) Will Post Earnings of $0.45 Per Share
Wall Street brokerages expect Rexnord Corp (NYSE:RXN) to report earnings per share of $0.45 for the current quarter, according to Zacks. Three analysts have made estimates for Rexnord’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.42. Rexnord posted earnings of $0.41 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is expected to announce its next earnings report on Monday, July 29th.
On average, analysts expect that Rexnord will report full year earnings of $1.96 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $2.06. For the next year, analysts expect that the firm will report earnings of $2.17 per share, with EPS estimates ranging from $2.05 to $2.31. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Rexnord.
Rexnord (NYSE:RXN) last announced its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The company had revenue of $537.50 million for the quarter, compared to the consensus estimate of $543.89 million. Rexnord had a return on equity of 19.48% and a net margin of 1.68%. Rexnord’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS.
In related news, CEO Todd A. Adams sold 104,231 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $27.59, for a total transaction of $2,875,733.29. Following the completion of the sale, the chief executive officer now directly owns 272,883 shares in the company, valued at approximately $7,528,841.97. The sale was disclosed in a document filed 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 Tuesday, March 19th. The stock was sold at an average price of $27.09, for a total value of $812,700.00. Following the sale, the chief executive officer now owns 241,792 shares of the company’s stock, valued at $6,550,145.28. The disclosure for this sale can be found here. Insiders have sold a total of 217,586 shares of company stock worth $6,013,398 in the last three months. Corporate insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Water Asset Management LLC lifted its stake in shares of Rexnord by 12.3% during the 4th quarter. Water Asset Management LLC now owns 148,951 shares of the industrial products company’s stock worth $3,418,000 after purchasing an additional 16,275 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Rexnord by 10.3% in the third quarter. JPMorgan Chase & Co. now owns 85,370 shares of the industrial products company’s stock valued at $2,630,000 after buying an additional 7,996 shares during the last quarter. BBT Capital Management LLC purchased a new stake in Rexnord in the fourth quarter valued at about $290,000. AQR Capital Management LLC raised its stake in Rexnord by 11.1% in the third quarter. AQR Capital Management LLC now owns 24,824 shares of the industrial products company’s stock valued at $765,000 after buying an additional 2,481 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Rexnord by 61.8% in the fourth quarter. Millennium Management LLC now owns 583,889 shares of the industrial products company’s stock valued at $13,400,000 after buying an additional 222,922 shares during the last quarter.
Shares of RXN traded up $0.50 during midday trading on Thursday, reaching $28.27. 443,084 shares of the stock were exchanged, compared to its average volume of 697,943. Rexnord has a 52 week low of $21.38 and a 52 week high of $32.11. The company has a current ratio of 2.87, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.12 and a beta of 1.56.
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.
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