Rexnord Corp (RXN) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Resource from: Ticker Report Likes:199
Nov 04,2015
Rexnord Corp logoRexnord Corp (NYSE:RXN) posted its earnings results on Tuesday. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02, AnalystRatings.Net reports. The business had revenue of $485.90 million for the quarter, compared to the consensus estimate of $486.25 million. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Rexnord Corp updated its Q3 guidance to $0.36-0.39 EPS and its FY16 guidance to $1.43-1.48 EPS.
Several equities research analysts have recently commented on RXN shares. Bank of America cut their price target on shares of Rexnord Corp from $20.00 to $17.00 in a report on Friday, October 2nd. Zacks cut shares of Rexnord Corp from a “buy” rating to a “sell” rating in a research note on Tuesday, October 6th. TheStreet cut shares of Rexnord Corp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Robert W. Baird decreased their target price on shares of Rexnord Corp to $21.00 in a report on Thursday, October 15th. Finally, Oppenheimer lowered shares of Rexnord Corp from an “outperform” rating to a “market perform” rating and set a $27.00 price target on the stock. in a report on Thursday, October 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.89.
Shares of Rexnord Corp (NYSE:RXN) traded up 0.53% during midday trading on Tuesday, reaching $18.88. 946,971 shares of the company’s stock traded hands. The company has a market capitalization of $1.89 billion and a price-to-earnings ratio of 21.21. The company has a 50-day moving average of $18.06 and a 200-day moving average of $22.26. Rexnord Corp has a one year low of $16.33 and a one year high of $29.56.
In other Rexnord Corp news, Director Paul W. Jones bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $21.30 per share, for a total transaction of $213,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark W. Peterson bought 2,540 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $19.64 per share, for a total transaction of $49,885.60. Following the transaction, the chief financial officer now directly owns 5,540 shares in the company, valued at $108,805.60. The disclosure for this purchase can be found here.
Rexnord Corporation (NYSE:RXN) is a multi-platform industrial company. The Company operates through two business segments: Water Management platform and the Motion & Process Control platform. The Process & Motion Control platform designs, makes, markets and services established and engineered mechanical parts used within systems where dependability requirements and expense of failure or downtime is high. The platform’s product portfolio includes industrial bearings, couplings, supplies, aerospace bearings and seals, FlatTop chain, chain that is engineered and carrying equipment. The Water Management platform designs, procures, manufactures and markets products that provide and improve conservation, safety, flow control and water quality. The Water Management product portfolio includes flush valves professional grade specification drainage products and faucet goods, engineered valves and gates for the water and wastewater treatment market, and PEX.
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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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