Rexnord (NYSE:RXN) announced its quarterly earnings results on Tuesday. The industrial products company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09, MarketWatch Earnings reports. The company had revenue of $449.10 million during the quarter, compared to analysts’ expectations of $427.35 million. Rexnord had a return on equity of 17.52% and a net margin of 8.42%. Rexnord’s revenue was down 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 EPS. Rexnord updated its Q2 2021
After-Hours guidance to EPS.

RXN stock traded down $1.13 during trading hours on Friday, hitting $28.46. 20,473 shares of the stock were exchanged, compared to its average volume of 677,353. The company has a current ratio of 2.52, a quick ratio of 2.08 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $3.41 billion, a P/E ratio of 21.27, a P/E/G ratio of 3.24 and a beta of 1.58. The company has a 50-day simple moving average of $29.12 and a two-hundred day simple moving average of $28.72. Rexnord has a 12 month low of $18.87 and a 12 month high of $35.64.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, August 19th. Rexnord’s payout ratio is 15.92%.

In other news, CEO Todd A. Adams sold 18,162 shares of Rexnord stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $32.18, for a total transaction of $584,453.16. Following the sale, the chief executive officer now directly owns 617,813 shares of the company’s stock, valued at $19,881,222.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig Wehr sold 45,000 shares of Rexnord stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $31.79, for a total value of $1,430,550.00. Following the completion of the transaction, the insider now directly owns 70,943 shares in the company, valued at $2,255,277.97. The disclosure for this sale can be found here. Insiders have sold a total of 298,177 shares of company stock worth $9,313,045 in the last quarter. Company insiders own 3.50% of the company’s stock.

Several equities research analysts have recently commented on RXN shares. Credit Suisse Group increased their price objective on Rexnord from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays reaffirmed a “hold” rating and set a $28.00 price target on shares of Rexnord in a report on Monday, April 6th. TheStreet raised Rexnord from a “c+” rating to a “b” rating in a report on Wednesday, May 27th. Oppenheimer raised their price target on Rexnord from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday. Finally, ValuEngine downgraded Rexnord from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.57.

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 for Rexnord (NYSE:RXN)

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