Renold (RNO) Issues Earnings Results

Renold (LON:RNO) issued its earnings results on Tuesday. The company reported GBX 4.50 ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of GBX 4.50 ($0.06), Bloomberg Earnings reports. Renold had a net margin of 4.30% and a return on equity of 201.92%.

Renold traded up GBX 3.90 ($0.05), reaching GBX 30 ($0.40), during mid-day trading on Thursday, reports. The company had a trading volume of 2,673,379 shares, compared to its average volume of 116,013. Renold has a 12 month low of GBX 32.12 ($0.43) and a 12 month high of GBX 65 ($0.87).

In related news, insider Mark Harper bought 96,525 shares of the company’s stock in a transaction on Wednesday, May 30th. The shares were acquired at an average cost of GBX 26 ($0.35) per share, for a total transaction of £25,096.50 ($33,673.02).

Separately, FinnCap dropped their target price on shares of Renold from GBX 50 ($0.67) to GBX 40 ($0.54) and set a “hold” rating on the stock in a research note on Friday, March 9th.

About Renold

Renold plc manufactures and sells high precision engineered and power transmission products in the United Kingdom, rest of Europe, North America, and internationally. It operates in two segments, Chain and Torque Transmission. The company offers a range of products, including transmission, conveyor, and leaf chains; diagnostic tools under the SmartProducts name; and sprockets, chain wear guides, chain pin extractors, and roll-ring chain tensioners.

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