Regal Rexnord (NYSE:RRX – Get Free Report) posted its earnings results on Wednesday. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15, Briefing.com reports. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $2.56 EPS. The company’s revenue for the quarter 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
Shares of NYSE RRX traded up $2.28 during midday trading on Thursday, reaching $162.96. The company had a trading volume of 929,879 shares, compared to its average volume of 457,187. The stock has a market cap of $10.84 billion, a P/E ratio of -334.75, a P/E/G ratio of 1.63 and a beta of 1.06. 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 1 year low of $97.18 and a 1 year high of $183.85. The business’s 50-day simple moving average is $144.10 and its 200 day simple moving average is $154.99.
Regal Rexnord Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a yield of 0.86%. Regal Rexnord’s payout ratio is -291.67%.
Analyst Ratings Changes
Read Our Latest Stock Report on Regal Rexnord
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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