Equities Analysts Offer Predictions for Rexnord Corp’s Q4 2019 Earnings (NYSE:RXN)

Rexnord Corp (NYSE:RXN) – Stock analysts at KeyCorp raised their Q4 2019 EPS estimates for shares of Rexnord in a report issued on Sunday, April 14th, Zacks Investment Research reports. KeyCorp analyst J. Hammond now forecasts that the industrial products company will earn $0.47 per share for the quarter, up from their previous estimate of $0.45.

Several other brokerages also recently commented on RXN. Zacks Investment Research downgraded shares of Rexnord from a “buy” rating to a “hold” rating in a research report on Wednesday, February 13th. Oppenheimer raised shares of Rexnord to a “buy” rating and set a $35.00 price target for the company in a research report on Monday, February 4th. Barclays reissued a “hold” rating and issued a $30.00 price target on shares of Rexnord in a research report on Friday, February 1st. Finally, Robert W. Baird set a $29.00 price target on shares of Rexnord and gave the company a “buy” rating in a research report on Friday, January 25th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Rexnord presently has a consensus rating of “Hold” and an average price target of $30.63.

Shares of RXN stock traded down $0.13 on Wednesday, reaching $28.66. The company had a trading volume of 726,134 shares, compared to its average volume of 701,169. The stock has a market capitalization of $2.94 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 0.96 and a beta of 1.56. Rexnord has a one year low of $21.38 and a one year high of $32.11. The company has a current ratio of 2.87, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11.

Rexnord (NYSE:RXN) last released its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.04. The business had revenue of $537.50 million for the quarter, compared to the consensus estimate of $543.89 million. Rexnord had a negative net margin of 3.58% and a positive return on equity of 18.32%. Rexnord’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share.

In related news, CEO Todd A. Adams sold 30,000 shares of Rexnord stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $27.09, for a total value of $812,700.00. Following the completion of the sale, the chief executive officer now owns 241,792 shares of the company’s stock, valued at approximately $6,550,145.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 90,000 shares of company stock valued at $2,493,300. 4.50% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of RXN. FMR LLC lifted its stake in Rexnord by 18.7% during the 4th quarter. FMR LLC now owns 8,153,115 shares of the industrial products company’s stock valued at $187,114,000 after acquiring an additional 1,285,223 shares in the last quarter. Norges Bank bought a new position in Rexnord during the 4th quarter valued at $26,209,000. Glenmede Trust Co. NA lifted its stake in Rexnord by 216,331.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 976,106 shares of the industrial products company’s stock valued at $30,063,000 after acquiring an additional 975,655 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in Rexnord by 65.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,947,167 shares of the industrial products company’s stock valued at $48,952,000 after acquiring an additional 767,520 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Rexnord by 6.2% during the 4th quarter. BlackRock Inc. now owns 7,862,762 shares of the industrial products company’s stock valued at $180,451,000 after acquiring an additional 456,769 shares in the last quarter.

Rexnord Company Profile

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

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