FY2024 EPS Estimates for Regal Rexnord Co. Cut by Analyst (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX) – Equities researchers at Seaport Res Ptn reduced their FY2024 earnings estimates for shares of Regal Rexnord in a research report issued on Monday, July 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the company will earn $9.50 per share for the year, down from their prior estimate of $9.79. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.83 per share.

Several other research analysts have also issued reports on the stock. 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 note on Monday, March 25th. Barclays cut their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Oppenheimer increased their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Raymond James assumed coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating on the stock. Finally, StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Regal Rexnord Price Performance

NYSE:RRX opened at $133.86 on Wednesday. The firm’s fifty day moving average is $150.34 and its 200-day moving average is $154.72. 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.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm posted $2.22 EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis.

Regal Rexnord Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock valued at $87,000 after purchasing an additional 79 shares in the last quarter. Xponance Inc. lifted its position in shares of Regal Rexnord by 1.2% during the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after purchasing an additional 91 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Regal Rexnord by 2.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after purchasing an additional 95 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Regal Rexnord by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after purchasing an additional 102 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after purchasing an additional 113 shares in the last quarter. 99.72% of the stock is owned by institutional investors.

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.