Regal Rexnord Co. (NYSE:RRX) to Issue Quarterly Dividend of $0.35

Regal Rexnord Co. (NYSE:RRX) announced a quarterly dividend on Monday, April 22nd, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.35 per share on Friday, July 12th. This represents a $1.40 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, June 28th.

Regal Rexnord has raised its dividend by an average of 5.3% annually over the last three years. Regal Rexnord has a dividend payout ratio of 11.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Regal Rexnord to earn $11.94 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 11.7%.

Regal Rexnord Trading Down 0.6 %

NYSE:RRX opened at $136.78 on Thursday. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The stock’s 50-day simple moving average is $152.51 and its 200 day simple moving average is $154.71.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company posted $2.22 EPS. On average, analysts forecast that Regal Rexnord will post 9.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RRX. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays lowered their price target on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. KeyCorp increased their target price on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Oppenheimer boosted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, Robert W. Baird increased their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $192.00.

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.