Zacks: Analysts Expect Rexnord Corp (RXN) to Announce $0.47 Earnings Per Share

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Wall Street brokerages expect Rexnord Corp (NYSE:RXN) to post $0.47 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Rexnord’s earnings, with estimates ranging from $0.39 to $0.53. Rexnord reported earnings per share of $0.42 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.9%. The company is scheduled to issue its next earnings report on Monday, May 13th.

According to Zacks, analysts expect that Rexnord will report full year earnings of $1.81 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.86. For the next year, analysts anticipate that the firm will post earnings of $2.00 per share, with EPS estimates ranging from $1.90 to $2.06. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Rexnord.

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

Several equities research analysts recently issued reports on RXN shares. Oppenheimer set a $35.00 price target on Rexnord and gave the company a “buy” rating in a research note on Sunday, January 27th. Zacks Investment Research cut Rexnord from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Finally, Robert W. Baird set a $29.00 price target on Rexnord and gave the company a “buy” rating in a research note on Friday, January 25th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $30.88.

Shares of RXN stock traded down $0.18 during trading on Friday, hitting $26.94. The company had a trading volume of 20,129 shares, compared to its average volume of 495,963. 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 stock has a market cap of $2.82 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 0.87 and a beta of 1.53. Rexnord has a one year low of $21.38 and a one year high of $32.11.

In related news, Director David C. Longren purchased 3,500 shares of the stock in a transaction dated Friday, February 1st. The stock was bought at an average cost of $26.50 per share, for a total transaction of $92,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction, the chief executive officer now owns 271,792 shares of the company’s stock, valued at $7,615,611.84. The disclosure for this sale can be found here. 4.50% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Investors Research Corp increased its holdings in shares of Rexnord by 5.0% during the fourth quarter. Investors Research Corp now owns 10,520 shares of the industrial products company’s stock worth $241,000 after buying an additional 500 shares in the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Rexnord by 0.8% during the fourth quarter. ClariVest Asset Management LLC now owns 78,900 shares of the industrial products company’s stock worth $1,810,000 after buying an additional 600 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Rexnord by 6.0% during the fourth quarter. Amalgamated Bank now owns 13,960 shares of the industrial products company’s stock worth $320,000 after buying an additional 788 shares in the last quarter. NJ State Employees Deferred Compensation Plan increased its holdings in shares of Rexnord by 4.0% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 26,000 shares of the industrial products company’s stock worth $597,000 after buying an additional 1,000 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in shares of Rexnord during the fourth quarter worth $25,000.

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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