Zacks: Brokerages Anticipate Rexnord Corp (NYSE:RXN) Will Announce Earnings of $0.48 Per Share
Wall Street analysts forecast that Rexnord Corp (NYSE:RXN) will announce $0.48 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Rexnord’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.46. Rexnord reported earnings of $0.46 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Rexnord will report full year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.87 to $2.02. For the next fiscal year, analysts anticipate that the company will report earnings of $2.13 per share, with EPS estimates ranging from $1.97 to $2.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Rexnord.
Rexnord (NYSE:RXN) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.05. Rexnord had a net margin of 3.97% and a return on equity of 19.57%. The company had revenue of $508.30 million during the quarter, compared to the consensus estimate of $515.98 million. During the same quarter last year, the company earned $0.41 earnings per share. Rexnord’s revenue for the quarter was up .9% on a year-over-year basis.
In related news, CEO Todd A. Adams sold 12,786 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $28.79, for a total transaction of $368,108.94. Following the transaction, the chief executive officer now directly owns 664,337 shares in the company, valued at $19,126,262.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Troutman sold 11,845 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $29.51, for a total value of $349,545.95. Following the transaction, the insider now owns 46,525 shares in the company, valued at $1,372,952.75. The disclosure for this sale can be found here. Insiders have sold 27,355 shares of company stock valued at $798,013 in the last three months. Corporate insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. bought a new position in Rexnord during the second quarter worth $31,000. River & Mercantile Asset Management LLP bought a new position in Rexnord during the second quarter worth $57,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Rexnord by 20.4% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,695 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 794 shares during the last quarter. Quantamental Technologies LLC lifted its stake in Rexnord by 220.2% during the second quarter. Quantamental Technologies LLC now owns 6,747 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 4,640 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Rexnord during the second quarter worth $224,000.
Shares of RXN stock traded up $0.10 during mid-day trading on Friday, reaching $28.74. 673,100 shares of the company were exchanged, compared to its average volume of 658,851. Rexnord has a fifty-two week low of $21.38 and a fifty-two week high of $32.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.74 and a current ratio of 2.74. The company has a market capitalization of $2.95 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.75 and a beta of 1.57. The business’s 50 day simple moving average is $27.20 and its 200 day simple moving average is $27.59.
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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