Regal Rexnord (NYSE:RRX – Get Free Report) 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.
Analyst Ratings Changes
A number of research firms recently commented on RRX. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays raised 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. KeyCorp dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Robert W. Baird raised their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.63.
Get Our Latest Stock Analysis on RRX
Regal Rexnord Stock Up 0.7 %
Regal Rexnord Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a yield of 0.82%. Regal Rexnord’s dividend payout ratio (DPR) is currently -7,000.00%.
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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