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

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

Analyst Ratings Changes

Several research firms have issued reports on RRX. Loop Capital reaffirmed a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Citigroup assumed coverage on Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. Robert W. Baird decreased their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, KeyCorp reduced their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.

Regal Rexnord Trading Down 1.5 %

NYSE:RRX opened at $178.89 on Friday. The stock has a market cap of $11.90 billion, a PE ratio of 56.43, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. Regal Rexnord has a fifty-two week low of $101.64 and a fifty-two week high of $185.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38. The stock’s 50-day moving average is $165.87 and its two-hundred day moving average is $156.53.

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

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

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.