Zacks: Brokerages Expect Rexnord Corp (RXN) to Announce $0.48 EPS

Wall Street brokerages forecast that Rexnord Corp (NYSE:RXN) will post earnings of $0.48 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Rexnord’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.53. Rexnord reported earnings of $0.42 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The firm is expected to report its next earnings results after the market closes on Wednesday, May 8th.

On average, analysts expect that Rexnord will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.73 to $1.86. For the next year, analysts anticipate that the company will post earnings of $1.98 per share, with EPS estimates ranging from $1.90 to $2.06. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Rexnord.

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

RXN has been the topic of a number of research reports. Oppenheimer set a $35.00 price objective on shares of Rexnord and gave the stock a “buy” rating in a research report on Sunday, January 27th. Robert W. Baird set a $29.00 price objective on shares of Rexnord and gave the stock a “buy” rating in a research report on Friday, January 25th. Zacks Investment Research raised shares of Rexnord from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday, December 31st. Finally, Barclays reissued a “hold” rating and issued a $30.00 price objective on shares of Rexnord in a research report on Friday, February 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Rexnord presently has a consensus rating of “Hold” and a consensus price target of $30.63.

In other news, Director David C. Longren purchased 3,500 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd A. Adams sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $28.02, for a total transaction of $840,600.00. Following the sale, the chief executive officer now directly owns 271,792 shares in the company, valued at $7,615,611.84. 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 ninety days. Insiders own 4.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of RXN. FMR LLC raised its position in Rexnord by 18.7% during the fourth quarter. FMR LLC now owns 8,153,115 shares of the industrial products company’s stock worth $187,114,000 after acquiring an additional 1,285,223 shares in the last quarter. Norges Bank bought a new stake in Rexnord during the fourth quarter worth $26,209,000. BlackRock Inc. raised its position in Rexnord by 6.2% during the fourth quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock worth $180,451,000 after acquiring an additional 456,769 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Rexnord by 13.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,795,391 shares of the industrial products company’s stock valued at $87,104,000 after purchasing an additional 449,692 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Rexnord in the third quarter valued at $13,173,000.

Shares of RXN stock traded up $0.44 during trading on Tuesday, reaching $28.71. The company’s stock had a trading volume of 408,834 shares, compared to its average volume of 721,172. The company has a quick ratio of 1.86, a current ratio of 2.87 and a debt-to-equity ratio of 1.11. The firm has a market cap of $3.01 billion, a PE ratio of 20.65, a P/E/G ratio of 0.94 and a beta of 1.52. Rexnord has a one year low of $21.38 and a one year high of $32.11.

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.

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Earnings History and Estimates for Rexnord (NYSE:RXN)

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