SunTrust Banks Comments on Rexnord Corp’s Q4 2019 Earnings (RXN)
Rexnord Corp (NYSE:RXN) – Stock analysts at SunTrust Banks issued their Q4 2019 EPS estimates for shares of Rexnord in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst C. Brady expects that the industrial products company will post earnings per share of $0.48 for the quarter.
Rexnord (NYSE:RXN) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Rexnord had a return on equity of 12.03% and a net margin of 4.45%. The company had revenue of $510.80 million during the quarter, compared to analyst estimates of $505.75 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis.
Other research analysts have also issued research reports about the company. Bank of America upgraded Rexnord from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. TheStreet lowered Rexnord from a “b-” rating to a “c+” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded Rexnord from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Oppenheimer restated a “hold” rating on shares of Rexnord in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $27.00.
Rexnord (NYSE RXN) opened at $27.84 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.23 and a current ratio of 3.08. Rexnord has a 12-month low of $20.75 and a 12-month high of $28.44. The stock has a market capitalization of $2,921.33, a price-to-earnings ratio of 42.18, a price-to-earnings-growth ratio of 2.25 and a beta of 1.65.
Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Rexnord by 5.5% in the third quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock valued at $360,250,000 after buying an additional 738,129 shares during the period. BlackRock Inc. lifted its holdings in shares of Rexnord by 14.4% in the second quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock valued at $163,374,000 after buying an additional 883,165 shares during the period. Impax Asset Management LTD lifted its holdings in shares of Rexnord by 4.1% in the third quarter. Impax Asset Management LTD now owns 3,203,772 shares of the industrial products company’s stock valued at $81,408,000 after buying an additional 125,327 shares during the period. Capital World Investors lifted its holdings in shares of Rexnord by 3.4% in the second quarter. Capital World Investors now owns 3,000,000 shares of the industrial products company’s stock valued at $69,750,000 after buying an additional 100,000 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rexnord by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,665,666 shares of the industrial products company’s stock valued at $67,735,000 after buying an additional 73,216 shares during the period.
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Rexnord Company Profile
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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