Rexnord Corp (NYSE:RXN) – Equities researchers at SunTrust Banks boosted their FY2018 earnings per share (EPS) estimates for shares of Rexnord in a report released on Tuesday, according to Zacks Investment Research. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings of $1.35 per share for the year, up from their previous forecast of $1.32. SunTrust Banks also issued estimates for Rexnord’s FY2019 earnings at $1.70 EPS.
Rexnord (NYSE:RXN) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.10. The business had revenue of $492.30 million during the quarter, compared to analysts’ expectations of $479.66 million. Rexnord had a net margin of 8.29% and a return on equity of 13.05%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share.
Other research analysts have also recently issued reports about the stock. KeyCorp increased their price objective on shares of Rexnord from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday. TheStreet upgraded shares of Rexnord from a “c+” rating to a “b” rating in a report on Friday, January 26th. Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the company a “buy” rating in a report on Friday, January 19th. Zacks Investment Research upgraded shares of Rexnord from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Bank of America upgraded shares of Rexnord from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Rexnord has an average rating of “Buy” and an average target price of $30.00.
Rexnord (NYSE RXN) opened at $28.77 on Thursday. The company has a quick ratio of 2.23, a current ratio of 2.49 and a debt-to-equity ratio of 1.05. The stock has a market cap of $2,990.00, a P/E ratio of 23.02, a PEG ratio of 2.23 and a beta of 1.76. Rexnord has a 1-year low of $21.51 and a 1-year high of $31.44.
Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its stake in Rexnord by 5.5% in the 3rd quarter. Janus Henderson Group PLC now owns 14,177,506 shares of the industrial products company’s stock worth $360,250,000 after purchasing an additional 738,129 shares during the period. BlackRock Inc. boosted its stake in Rexnord by 14.4% in the 2nd quarter. BlackRock Inc. now owns 7,026,845 shares of the industrial products company’s stock worth $163,374,000 after purchasing an additional 883,165 shares during the period. Impax Asset Management LTD boosted its stake in Rexnord by 4.1% in the 3rd quarter. Impax Asset Management LTD now owns 3,203,772 shares of the industrial products company’s stock worth $81,408,000 after purchasing an additional 125,327 shares during the period. Capital World Investors boosted its stake in Rexnord by 3.4% in the 2nd quarter. Capital World Investors now owns 3,000,000 shares of the industrial products company’s stock worth $69,750,000 after purchasing an additional 100,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Rexnord by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,665,666 shares of the industrial products company’s stock worth $67,735,000 after purchasing an additional 73,216 shares during the period.
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Rexnord Company Profile
Rexnord Corporation is a multi-platform industrial company. The Company operates through two segments: Process & Motion Control platform, and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a range of engineered mechanical components used within systems.
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