Regal Rexnord (NYSE:RRX) Posts Earnings Results

Regal Rexnord (NYSE:RRX) posted its quarterly earnings data on Monday. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01, Briefing.com reports. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. Regal Rexnord updated its FY24 guidance to $9.15-$9.45 EPS.

Regal Rexnord Price Performance

NYSE RRX traded up $13.66 during trading hours on Wednesday, reaching $181.63. 1,087,022 shares of the company’s stock were exchanged, compared to its average volume of 452,236. The stock has a market cap of $12.09 billion, a PE ratio of 53.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. Regal Rexnord has a one year low of $100.00 and a one year high of $185.28. The firm has a fifty day moving average of $165.24 and a 200-day moving average of $156.19. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91.

Regal Rexnord Announces Dividend

The firm also recently declared 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 yield of 0.77%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Analyst Ratings Changes

RRX has been the subject of several research analyst reports. KeyCorp cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays boosted 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. The Goldman Sachs Group upped their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their price target on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.