Rexnord Corporation (NYSE:RXN) – Equities research analysts at KeyCorp issued their Q3 2018 earnings per share (EPS) estimates for Rexnord Corporation in a research note issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst J. Hammond forecasts that the industrial products company will post earnings of $0.26 per share for the quarter. KeyCorp also issued estimates for Rexnord Corporation’s Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.23 EPS.
Other equities analysts also recently issued research reports about the company. Janney Montgomery Scott initiated coverage on Rexnord Corporation in a research report on Friday, July 21st. They issued a “buy” rating and a $27.00 price objective for the company. Robert W. Baird set a $27.00 price objective on Rexnord Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. TheStreet downgraded Rexnord Corporation from a “b-” rating to a “c+” rating in a research report on Wednesday. Zacks Investment Research upgraded Rexnord Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Rexnord Corporation in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $26.00.
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Rexnord Corporation (NYSE:RXN) traded up $0.11 during trading on Monday, hitting $23.93. The company had a trading volume of 918,197 shares, compared to its average volume of 912,625. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.08 and a quick ratio of 2.23. The company has a market cap of $2,480.00, a P/E ratio of 19.42, a PEG ratio of 1.84 and a beta of 1.65. Rexnord Corporation has a 1-year low of $19.32 and a 1-year high of $26.24.
Rexnord Corporation (NYSE:RXN) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $510.80 million during the quarter, compared to the consensus estimate of $505.75 million. Rexnord Corporation had a return on equity of 12.03% and a net margin of 4.45%. Rexnord Corporation’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS.
Several institutional investors have recently modified their holdings of RXN. Manchester Capital Management LLC lifted its holdings in shares of Rexnord Corporation by 171.6% in the second quarter. Manchester Capital Management LLC now owns 5,540 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 3,500 shares in the last quarter. Strs Ohio bought a new stake in Rexnord Corporation during the second quarter worth about $139,000. US Bancorp DE raised its holdings in Rexnord Corporation by 79.9% during the second quarter. US Bancorp DE now owns 6,074 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 2,697 shares in the last quarter. Karp Capital Management Corp bought a new stake in Rexnord Corporation during the first quarter worth about $202,000. Finally, MUFG Americas Holdings Corp bought a new stake in Rexnord Corporation during the second quarter worth about $211,000.
In other Rexnord Corporation news, insider Michael Troutman sold 22,914 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $24.15, for a total value of $553,373.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is owned by insiders.
About Rexnord Corporation
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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