Zacks: Brokerages Anticipate Rexnord Corp (RXN) Will Announce Earnings of $0.40 Per Share
Equities research analysts forecast that Rexnord Corp (NYSE:RXN) will report earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rexnord’s earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.36. Rexnord posted earnings of $0.37 per share during the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The company is expected to report its next quarterly earnings results on Wednesday, January 30th.
According to Zacks, analysts expect that Rexnord will report full-year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.83. For the next financial year, analysts expect that the business will report earnings of $1.98 per share, with EPS estimates ranging from $1.87 to $2.08. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Rexnord.
Rexnord (NYSE:RXN) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $524.80 million during the quarter, compared to analyst estimates of $516.66 million. Rexnord had a negative net margin of 0.89% and a positive return on equity of 16.99%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share.
NYSE RXN opened at $26.44 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.23 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.78 billion, a PE ratio of 19.02, a P/E/G ratio of 0.92 and a beta of 1.49. Rexnord has a 52-week low of $23.75 and a 52-week high of $32.11.
In other Rexnord news, insider Craig Wehr sold 7,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $28.99, for a total transaction of $217,425.00. Following the transaction, the insider now owns 15,054 shares in the company, valued at $436,415.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Theodore D. Crandall purchased 4,000 shares of the stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $27.84 per share, for a total transaction of $111,360.00. Following the acquisition, the director now owns 20,330 shares of the company’s stock, valued at $565,987.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 29,964 shares of company stock worth $850,167. Insiders own 4.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in RXN. FMR LLC grew its holdings in Rexnord by 21.2% during the second quarter. FMR LLC now owns 6,238,342 shares of the industrial products company’s stock valued at $181,286,000 after purchasing an additional 1,089,253 shares during the last quarter. Capital International Investors acquired a new stake in shares of Rexnord in the third quarter worth $30,954,000. Glenmede Trust Co. NA grew its stake in shares of Rexnord by 216,331.5% in the third quarter. Glenmede Trust Co. NA now owns 976,106 shares of the industrial products company’s stock worth $30,063,000 after acquiring an additional 975,655 shares during the last quarter. Robecosam AG grew its stake in shares of Rexnord by 117.9% in the third quarter. Robecosam AG now owns 832,367 shares of the industrial products company’s stock worth $25,787,000 after acquiring an additional 450,429 shares during the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Rexnord by 18,706.7% in the second quarter. Federated Investors Inc. PA now owns 431,801 shares of the industrial products company’s stock worth $12,548,000 after acquiring an additional 429,505 shares during the last quarter.
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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