Rexnord Corp (RXN) Expected to Announce Quarterly Sales of $513.67 Million

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Analysts expect Rexnord Corp (NYSE:RXN) to report sales of $513.67 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Rexnord’s earnings, with the highest sales estimate coming in at $520.00 million and the lowest estimate coming in at $509.70 million. Rexnord reported sales of $503.60 million in the same quarter last year, which indicates a positive year over year growth rate of 2%. The firm is expected to issue its next earnings report on Monday, July 29th.

According to Zacks, analysts expect that Rexnord will report full year sales of $2.10 billion for the current fiscal year, with estimates ranging from $2.08 billion to $2.12 billion. For the next year, analysts anticipate that the firm will report sales of $2.17 billion, with estimates ranging from $2.15 billion to $2.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Rexnord.

Rexnord (NYSE:RXN) last issued its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. Rexnord had a return on equity of 19.22% and a net margin of 1.68%. The firm had revenue of $537.50 million for the quarter, compared to analyst estimates of $543.89 million. During the same period in the prior year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis.

A number of brokerages have commented on RXN. Zacks Investment Research lowered Rexnord from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Oppenheimer raised Rexnord to a “buy” rating and set a $35.00 price objective on the stock in a report on Monday, February 4th. Barclays reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Rexnord in a report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 target price on Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Rexnord currently has a consensus rating of “Hold” and a consensus price target of $30.63.

NYSE RXN traded up $0.08 on Friday, reaching $26.72. The stock had a trading volume of 358,250 shares, compared to its average volume of 683,412. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.48 and a quick ratio of 1.68. Rexnord has a 1-year low of $21.38 and a 1-year high of $32.11. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.14 and a beta of 1.56.

In related news, General Counsel Patricia M. Whaley sold 2,354 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 $64,946.86. Following the completion of the sale, the general counsel now directly owns 62,942 shares in the company, valued at approximately $1,736,569.78. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider George J. Powers sold 2,771 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 value of $76,451.89. Following the sale, the insider now owns 14,153 shares of the company’s stock, valued at $390,481.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,249 shares of company stock valued at $6,543,758. 4.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Water Asset Management LLC raised its position in Rexnord by 12.3% in the fourth quarter. Water Asset Management LLC now owns 148,951 shares of the industrial products company’s stock valued at $3,418,000 after purchasing an additional 16,275 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 purchasing an additional 7,996 shares during the last quarter. BBT Capital Management LLC bought a new position in Rexnord in the fourth quarter valued at about $290,000. AQR Capital Management LLC raised its position 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 purchasing an additional 2,481 shares during the last quarter. Finally, Millennium Management LLC raised its position 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 purchasing an additional 222,922 shares during the last quarter.

About Rexnord

Rexnord Corp. engages in the manufacture of engineered power transmission, aerospace, and other precision motion technology products. It operates through the Process and Motion Control, and Water Management segments. The Process and Motion Control segment designs, manufactures and markets engineered mechanical components such as gears, couplings, industrial, aerospace bearings, and seals which are used within complex systems.

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Earnings History and Estimates for Rexnord (NYSE:RXN)

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