Rexnord Corp (RXN) Releases Earnings Results, Beats Expectations By $0.05 EPS

Rexnord Corp (RXN) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.35 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.30. The company posted revenue of $472.00 million in the period, compared to analysts expectations of $458.90 million. The company’s revenue was down -2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Rexnord Corp. Robert W. Baird Downgraded Rexnord Corp on Jun 23, 2016 to ” Neutral”, Price Target of the shares are set at $22.

Rexnord Corp closed down -0.1 points or -0.47% at $21.29 with 10,29,531 shares getting traded on Friday. Post opening the session at $21.36, the shares hit an intraday low of $20.99 and an intraday high of $21.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 10, 2016, John S Stroup (director) sold 18,732 shares at $21.39 per share price. According to the SEC, on May 4, 2016, Todd A. Adams (President & CEO) sold 25,000 shares at $21.81 per share price. On Feb 8, 2016, Paul W Jones (director) purchased 20,000 shares at $17.15 per share price, according to the Form-4 filing with the securities and exchange commission.

Rexnord Corporation (Rexnord) 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 engineered mechanical components such as gears and gear drives couplings industrial bearings FlatTop and engineered chain aerospace bearings and seals under various brands including Rexnord Rex Falk and Link-Belt. The Water Management platform designs procures manufactures and markets products that provide water quality safety flow control and conservation under brands such as Zurn Wilkins VAG GA Rodney Hunt and Fontaine. The Water Management product portfolio includes specification drainage products sensor flush valves and faucet products pressure release valves sluice and slide gates butterfly and plug valves control valves and actuation systems and cross-linked polyethylene (PEX) piping.

Rexnord Corp

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