Regal Rexnord (NYSE:RRX) Releases FY24 Earnings Guidance

Regal Rexnord (NYSE:RRX) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $9.15-$9.45 for the period, compared to the consensus estimate of $9.45.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Citigroup assumed coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a “buy” rating and a $200.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $193.00.

Regal Rexnord Price Performance

Shares of RRX stock traded up $11.03 during trading hours on Wednesday, hitting $179.00. The company had a trading volume of 435,536 shares, compared to its average volume of 449,206. The firm has a market capitalization of $11.91 billion, a price-to-earnings ratio of 53.03, a PEG ratio of 1.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The firm’s fifty day moving average is $165.24 and its 200 day moving average is $156.19. Regal Rexnord has a 12 month low of $100.00 and a 12 month high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $2.10 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, sell-side analysts predict that Regal Rexnord will post 9.48 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is 44.16%.

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.