Rexnord Corp (RXN) Issues Q2 Earnings Guidance
Resource from: wkrb13.com Likes:210
Aug 06,2015
Rexnord Corp (NYSE:RXN) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.31-0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.43, MarketBeat reports. The company issued revenue guidance of $480-490 million, compared to the consensus revenue estimate of $504.87 million.Rexnord Corp also updated its FY16 guidance to $1.50-1.58 EPS.
Several research firms have recently weighed in on RXN. Oppenheimer reaffirmed an outperform rating on shares of Rexnord Corp in a research note on Wednesday. TheStreet cut shares of Rexnord Corp from a buy rating to a hold rating in a research note on Wednesday, July 22nd. Zacks upgraded shares of Rexnord Corp from a sell rating to a hold rating in a report on Tuesday, June 9th. Barclays reiterated an overweight rating and set a $27.00 price target (down from $29.00) on shares of Rexnord Corp in a report on Sunday, May 24th. Finally, Wedbush downgraded shares of Rexnord Corp from an outperform rating to a neutral rating and reduced their price objective for the company from $32.00 to $27.00 in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $29.63.
Shares of Rexnord Corp (NYSE:RXN) traded up 0.24% during mid-day trading on Wednesday, reaching $21.15. 769,328 shares of the company traded hands. Rexnord Corp has a 52 week low of $20.84 and a 52 week high of $29.95. The stock has a market capitalization of $2.15 billion and a PE ratio of 26.31. The firm has a 50 day moving average of $23.32 and a 200-day moving average of $25.63.
Rexnord Corp (NYSE:RXN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the analysts’ consensus estimate of $0.28 by $0.02. During the same quarter in the previous year, the company posted $0.26 EPS. The company earned $485 million during the quarter, compared to the consensus estimate of $473.17 million. Rexnord Corp’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts expect that Rexnord Corp will post $1.56 EPS for the current fiscal year.
In other news, Director John S. Stroup acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $25.44 per share, for a total transaction of $254,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Rexnord Corporation (NYSE:RXN) is a multi-platform industrial company. The Company operates through two business segments: the Process & Motion Control platform and Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services specified and engineered mechanical components used within systems where reliability requirements and cost of failure or downtime is high. The platform’s product portfolio includes gears, couplings, industrial bearings, aerospace bearings and seals, FlatTop chain, engineered chain and conveying equipment. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade specification drainage products, flush valves and faucet products, engineered valves and gates for the water and wastewater treatment market, and PEX piping.
(wkrb13.com)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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