Regal Rexnord (NYSE:RRX) Issues FY 2024 Earnings Guidance

Regal Rexnord (NYSE:RRX) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 9.150-9.450 for the period, compared to the consensus EPS estimate of 9.450. The company issued revenue guidance of -.

Regal Rexnord Trading Down 2.2 %

Shares of RRX stock opened at $175.06 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 2.45. Regal Rexnord has a fifty-two week low of $105.11 and a fifty-two week high of $185.28. The company has a market cap of $11.59 billion, a PE ratio of 55.22, a P/E/G ratio of 1.97 and a beta of 1.04. The stock’s fifty day moving average price is $166.02 and its two-hundred day moving average price is $156.53.

Regal Rexnord (NYSE:RRX) last released its earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. Equities analysts predict that Regal Rexnord will post 9.2 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. Regal Rexnord’s payout ratio is presently 44.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a research note on Thursday, September 19th. Barclays upped their price target on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird lowered their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They issued a “buy” rating and a $200.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.00.

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.