Regal Rexnord (NYSE:RRX) Releases FY24 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RRX shares. KeyCorp cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Robert W. Baird raised their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays boosted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group raised their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.63.

Regal Rexnord Price Performance

NYSE RRX traded down $2.73 on Tuesday, reaching $167.49. The company’s stock had a trading volume of 303,226 shares, compared to its average volume of 446,040. Regal Rexnord has a twelve month low of $100.00 and a twelve month high of $183.85. 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 50 day moving average is $165.20 and its two-hundred day moving average is $156.13. The stock has a market cap of $11.14 billion, a PE ratio of -8,511.00, a PEG ratio of 1.78 and a beta of 1.04.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.04. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that Regal Rexnord will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is -7,000.00%.

About Regal Rexnord

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.