Seaport Res Ptn Analysts Boost Earnings Estimates for Regal Rexnord Co. (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX) – Equities research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for Regal Rexnord in a research note issued to investors on Monday, July 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings of $2.11 per share for the quarter, up from their previous estimate of $2.10. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.73 per share. Seaport Res Ptn also issued estimates for Regal Rexnord’s Q3 2024 earnings at $2.40 EPS, Q4 2024 earnings at $2.99 EPS, Q1 2025 earnings at $2.38 EPS, Q2 2025 earnings at $2.70 EPS, Q3 2025 earnings at $2.94 EPS, Q4 2025 earnings at $3.48 EPS and FY2025 earnings at $11.50 EPS.

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

Several other equities research analysts have also recently weighed in on RRX. Robert W. Baird upped their price target on Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. KeyCorp upped their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Barclays reduced their price target on 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 upped their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Finally, StockNews.com cut Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $192.00.

Regal Rexnord Price Performance

RRX opened at $135.65 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The stock’s 50 day moving average price is $149.76 and its 200-day moving average price is $154.59.

Institutional Trading of Regal Rexnord

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock worth $1,004,848,000 after buying an additional 24,847 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Regal Rexnord by 80.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after purchasing an additional 226,435 shares in the last quarter. Channing Capital Management LLC grew its position in shares of Regal Rexnord by 7.7% during the fourth quarter. Channing Capital Management LLC now owns 84,383 shares of the company’s stock worth $12,490,000 after purchasing an additional 6,051 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Regal Rexnord by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,492 shares of the company’s stock worth $206,862,000 after purchasing an additional 30,688 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Regal Rexnord during the first quarter worth about $19,508,000. Hedge funds and other institutional investors own 99.72% of the company’s stock.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, June 28th. Regal Rexnord’s payout ratio is -291.67%.

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.