Regal Rexnord (NYSE:RRX – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15, Briefing.com reports. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $2.56 EPS. The firm’s revenue was down 12.5% on a year-over-year basis. Regal Rexnord updated its FY24 guidance to $9.40-9.80 EPS and its FY 2024 guidance to 9.400-9.800 EPS.
Regal Rexnord Stock Performance
RRX traded up $2.28 on Thursday, hitting $162.96. 929,879 shares of the stock traded hands, compared to its average volume of 457,187. The business has a fifty day moving average price of $144.10 and a two-hundred day moving average price of $154.99. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85. The firm has a market capitalization of $10.84 billion, a PE ratio of -334.75, a P/E/G ratio of 1.63 and a beta of 1.06.
Regal Rexnord Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, September 27th. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.
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Regal Rexnord Company Profile
Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.
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