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Rexnord Corporation

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Since the release of second-quarter fiscal 2017 results, shares of Rexnord Corporation underperformed the Zacks categorized Machinery Electrical industry. For fiscal 2017, the company lowered its adjusted earnings guidance to $1.32-$1.38 while predicts core sales to decline 3% due to extension of project timelines in Middle East and uneven growth in the U.S. nonresidential construction market. Also, risks from unfavorable currency fluctuations and extensive industry rivalry might weight on the company's top and bottom lines in the quarters ahead. In addition, unfavorable view toward the closure of the Indianapolis plant and moving hundreds of jobs to Mexico and Texas by the President-elect Donald Trump might hinder the company's restructuring moves. Over the last 60 days, earnings estimates on the stock decreased for fiscal 2017 and 2018.


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