Revenue Update on Rexnord Corp(NYSE:RXN)

Rexnord Corp(NYSE:RXN) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $471.80M. Analysts estimated a revenue of $459.57M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.30.

In a different note, On Jul 18, 2016, Barclays said it Maintains its rating on Rexnord Corp. In the research note, the firm Raises the price-target to $21.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 23, 2016, Baird said it Downgrades its rating on Rexnord Corp. The shares have been rated ‘Neutral’ by the firm.

Rexnord Corp (RXN) remained unchanged at the close of Monday session. Even as the volume increased to 3,52,348 ,the shares failed to make any impression and ended at 0 points or 0.00% at $21.25. The trading session commenced at $21.31 and the stock hit a high of $21.38 and touched $21.09 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $22.97 and the 52-week low is $14.04. The company has a market cap of $2,183 M and has approximately 10,27,12,027 outstanding shares.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, John S Stroup (director) sold 18,732 shares at $21.39 per share price.Also, 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.

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