Zacks: Analysts Expect Rexnord Llc (RXN) to Post $0.37 Earnings Per Share

Analysts expect that Rexnord Llc (NYSE:RXN) will announce $0.37 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Rexnord’s earnings, with estimates ranging from $0.34 to $0.40. Rexnord posted earnings per share of $0.27 in the same quarter last year, which would suggest a positive year-over-year growth rate of 37%. The business is expected to report its next earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Rexnord will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.90. For the next year, analysts forecast that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.85 to $2.07. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Rexnord.

Rexnord (NYSE:RXN) last issued its quarterly earnings data on Monday, May 14th. The industrial products company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $575.00 million during the quarter, compared to the consensus estimate of $552.47 million. Rexnord had a net margin of 3.67% and a return on equity of 13.38%. Rexnord’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share.

A number of equities analysts recently commented on the stock. Barclays assumed coverage on shares of Rexnord in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $30.00 price objective for the company. KeyCorp boosted their price objective on shares of Rexnord from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. UBS raised shares of Rexnord from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 8th. Deutsche Bank set a $33.00 price objective on shares of Rexnord and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Zacks Investment Research raised shares of Rexnord from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective for the company in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Rexnord has an average rating of “Buy” and a consensus target price of $30.57.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Rexnord by 5.7% in the first quarter. BlackRock Inc. now owns 8,629,683 shares of the industrial products company’s stock worth $256,129,000 after purchasing an additional 467,658 shares during the last quarter. Impax Asset Management LTD grew its holdings in Rexnord by 14.9% in the fourth quarter. Impax Asset Management LTD now owns 3,682,376 shares of the industrial products company’s stock worth $95,815,000 after purchasing an additional 478,604 shares during the last quarter. Channing Capital Management LLC grew its holdings in Rexnord by 18.4% in the fourth quarter. Channing Capital Management LLC now owns 2,817,990 shares of the industrial products company’s stock worth $73,335,000 after purchasing an additional 438,205 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Rexnord by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,765,142 shares of the industrial products company’s stock worth $82,069,000 after purchasing an additional 93,859 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Rexnord by 36.1% in the first quarter. Wells Fargo & Company MN now owns 2,056,105 shares of the industrial products company’s stock worth $61,025,000 after purchasing an additional 545,897 shares during the last quarter.

Shares of Rexnord opened at $28.72 on Friday, MarketBeat reports. The company has a market capitalization of $2.99 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.33 and a beta of 1.64. Rexnord has a 52 week low of $28.35 and a 52 week high of $28.83. The company has a quick ratio of 1.58, a current ratio of 2.20 and a debt-to-equity ratio of 1.11.

About Rexnord

Rexnord Corporation designs, manufactures, and markets process and motion control, and water management products worldwide. The company operates in two segments, Process & Motion Control Platform and Water Management Platform. It offers table top conveying chain and related accessories, metal conveying and engineered woven metals, gearing and gear drives, conveying equipment, industrial chains, 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, such as couplings, torque limiters, electromagnetic clutches and brakes, industrial bearings, and shaft locking assemblies.

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Earnings History and Estimates for Rexnord (NYSE:RXN)

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