Rexnord Corporation (NYSE:RXN) has a beta value of 1.45 and has seen 0.61 million shares traded in the last trading session. The company, currently valued at $7.61B, closed the last trade at $63.23 per share which meant it gained $0.42 on the day or 0.67% during that session. The RXN stock price is 0.66% off its 52-week high price of $62.81 and 55.56% above the 52-week low of $28.10. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.65 million shares traded. The 3-month trading volume is 732.73K shares.
The consensus among analysts is that Rexnord Corporation (RXN) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 6 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.55.
Rexnord Corporation (NYSE:RXN) trade information
Sporting 0.67% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the RXN stock price touched $63.23 or saw a rise of 0.44%. Year-to-date, Rexnord Corporation shares have moved 60.12%, while the 5-day performance has seen it change 2.20%. Over the past 30 days, the shares of Rexnord Corporation (NYSE:RXN) have changed 9.64%. Short interest in the company has seen 1.72 million shares shorted with days to cover at 3.04.
Wall Street analysts have a consensus price target for the stock at $63.17, which means that the shares’ value could drop -0.09% from current levels. The projected low price target is $56.00 while the price target rests at a high of $70.00. In that case, then, we find that the current price level is -10.71% off the targeted high while a plunge would see the stock lose 11.43% from current levels.
Rexnord Corporation (RXN) estimates and forecasts
The company’s shares have gained 30.80% over the past 6 months, compared to 21.50% for the industry. Revenue growth from the last financial year stood is estimated to be 12.10%.
6 analysts offering their estimates for the company have set an average revenue estimate of $578.2 million for the current quarter. 6 have an estimated revenue figure of $546.77 million for the next quarter concluding in Dec 2021. Year-ago sales stood $493.6 million and $490.4 million respectively for this quarter and the next, and analysts expect sales will grow by 17.10% for the current quarter and 11.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 7.40% over the past 5 years. Earnings growth for 2021 is a modest -28.80% while over the next 5 years, the company’s earnings are expected to increase by 15.40%.
Rexnord Corporation is expected to release its next earnings report between October 25 and October 29 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.36 at a share yield of 0.57%. The company’s dividend yield has gone up over the past 12 months.
Rexnord Corporation (NYSE:RXN)’s Major holders
Insiders own 0.86% of the company shares, while shares held by institutions stand at 105.75% with a share float percentage of 106.67%. Investors are also buoyed by the number of investors in a company, with Rexnord Corporation having a total of 346 institutions that hold shares in the company. The top two institutional holders are Janus Henderson Group PLC with over 10.96 million shares worth more than $516.28 million. As of Mar 30, 2021, Janus Henderson Group PLC held 9.16% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 10.48 million shares as of Mar 30, 2021. The firm’s total holdings are worth over $493.37 million and represent 8.75% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Smallcap World Fund and Janus Henderson Enterprise Fund. As of Mar 30, 2021, the former fund manager holds about 4.07% shares in the company for having 4.88 million shares of worth $229.73 million while later fund manager owns 4.54 million shares of worth $213.73 million as of Mar 30, 2021, which makes it owner of about 3.79% of company’s outstanding stock.