Regal Rexnord (NYSE:RRX) Updates 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 -.

Wall Street Analyst Weigh In

A number of analysts recently commented on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. KeyCorp lowered their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a research report on Thursday, September 19th. Finally, The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $175.06 on Friday. The firm’s 50 day moving average is $166.02 and its 200 day moving average is $156.53. The stock has a market capitalization of $11.59 billion, a P/E ratio of 55.22, a PEG ratio of 1.97 and a beta of 1.04. Regal Rexnord has a 12 month low of $105.11 and a 12 month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87.

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

Regal Rexnord Dividend Announcement

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. This represents a $1.40 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is presently 44.16%.

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.