Rexnord Upgraded to Strong Buy

  • Umno MP admits to Facebook photos of Karpal in death
    Umno MP admits to Facebook photos of Karpal in death

    KUALA LUMPUR, April 19 — Under-fire Umno lawmaker Datuk Nawawi Ahmad admitted today to uploading photos of slain DAP leader, Karpal Singh on the Internet using his smartphone. The Langkawi MP... …

  • We love you, Tiger of Jelutong, grandchildren bid Karpal farewell
    We love you, Tiger of Jelutong, grandchildren bid Karpal farewell

    The late Bukit Gelugor MP Karpal Singh was given a moving tribute and farewell by his grandchildren tonight, who vowed to take up the mantle of Tiger of Jelutong. The 11 grandchildren, aged between 1½ years and 11, showed the media a poster which they had made together. "Singh is King. We love you, Tiger of Jelutong. We will miss you. Jangan... …

  • ‘I’ll be the next Tiger of Jelutong’, says Karpal’s eldest grandson
    ‘I’ll be the next Tiger of Jelutong’, says Karpal’s eldest grandson

    GEORGE TOWN, April 19 — In a sign that Karpal Singh’s legacy will not be forgotten, his eldest grandson pledged today to become as fearless and dedicated a lawyer his late grandfather once was.... …

  • More seats will check gerrymandering, says opposition
    More seats will check gerrymandering, says opposition

    While Pakatan Rakyat supports the creation of more parliamentary seats in the next redelineation exercise as a means to check malapportionment, academics and non-governmental organisations have warned that it will not necessarily improve the quality of elected representatives. PAS election director Dr Mohd Hatta Ramli said the opposition pact... …

  • Learner drivers can take test in auto cars from June – Bernama

    The Road Transport Department (RTD) will allow learner drivers to be tested in automatic transmission vehicles starting in June. Deputy director-general of RTD Datuk Yusoff Ayob said there had been delays in implementing the move because of technical problems involving the printing of the driving education curriculum. "The printing of the... …

  • In Karpal, slain Beng Hock’s kin saw a beacon of hope
    In Karpal, slain Beng Hock’s kin saw a beacon of hope

    GEORGE TOWN, April 19 — The house at Number 144A Jalan Utama has seen a ceaseless stream of visitors since morning. They came from all walks of life, mostly in groups, sometimes alone to offer... …

Zacks Investment Research upgraded Rexnord Corporation (RXN) to a Zacks Rank #1 (Strong Buy) on Aug 24, based on impressive first-quarter fiscal 2014 results and a strong outlook.

Why the Upgrade?

Rexnord reported strong results for the first quarter of fiscal 2014, with year-over-year hikes in earnings per share as well as revenues. Adjusted earnings per share came in at 24 cents, increasing by a cent year over year. Revenues reported were $508.7 million, 3.1% higher than the prior-year quarter.

The strong results came on the back of growth across all the business segments, especially the Water Management business.

Subsequent to the strong fiscal first-quarter results, management increased its core sales growth guidance from 1%–3% to 2%–4% for fiscal year 2014. The lower end of the earnings per share guidance was also raised from $1.10–$1.18 to $1.12–$1.18. Tax rate is expected to be within the 31%–33% range.

For the second quarter of fiscal 2014, sales are anticipated to be within $510 million–$520 million and adjusted earnings per share within the 23 cents–25 cents range. Tax rate is expected to be 35%.

Moreover, recently Rexnord announced its acquisition of the U.K.-based company, Micro Precision Gear Technology, for an undisclosed amount. The specialty precision gears manufactured by Micro Precision cater to the aerospace industry. The acquisition will widen Rexnord’s reach in the aerospace industry while leveraging Micro Precision’s goodwill.

Other Stocks to Consider

Besides Rexnord, other stocks in the industry having a favorable Zacks Rank are Fabrinet (FN), Plug Power Inc. (PLUG) and AO Smith Corp. (AOS). While Fabrinet carries a Zacks Rank #1 (Strong Buy), Plug Power and AO Smith carry a Zacks Rank #2 (Buy).

Read the Full Research Report on AOS

Read the Full Research Report on PLUG

Read the Full Research Report on FN

Read the Full Research Report on RXN

Zacks Investment Research



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  • Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user The Malaysian Insider
    Langkawi MP unrepentant, continues insults on late Karpal, says Facebook user

    A Barisan Nasional MP whose Facebook posting poking fun at the death of Karpal Singh shocked Malaysians has again insulted the late DAP leader, this time comparing him to a hostile figure in Islamic history who fought against Prophet Muhammad. Facebook user Shamsul Kamal Ariffin Mohd Nasir, 42, told The Malaysian Insider that Langkawi MP,... …

  • Karpal’s car crashed into lorry, not the other way around, says Perak police The Malaysian Insider
    Karpal’s car crashed into lorry, not the other way around, says Perak police

    Initial investigations have revealed that Karpal Singh’s Toyota Alphard crashed into a five-ton lorry in the accident yesterday that claimed his life and that of his assistant, Perak police said today. State police chief Datuk Acryl Sani Abdullah Sani also dismissed rumours and speculation that the accident was caused by the lorry crashing... …

  • Interfaith group ‘worried’ that ex-judge can have such ‘racist’ views The Malay Mail Online
    Interfaith group ‘worried’ that ex-judge can have such ‘racist’ views

    KUALA LUMPUR, April 19 — An interfaith group expressed shock today at the “racist” views of a former high-ranking judge who had called the presence of large Hindu and Buddhist statues in the... …