Regal Rexnord (RRX) Projected to Post Earnings on Wednesday

Regal Rexnord (NYSE:RRXGet Free Report) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of $2.56 per share and revenue of $1.49 billion for the quarter. Regal Rexnord has set its FY24 guidance at $9.15-$9.45 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Regal Rexnord (NYSE:RRXGet Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.49 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 analysts’ expectations of $1.53 billion. Regal Rexnord had a net margin of 3.41% and a return on equity of 9.48%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 EPS. On average, analysts expect Regal Rexnord to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Regal Rexnord Stock Performance

Shares of RRX opened at $160.90 on Wednesday. The stock has a 50 day moving average of $163.06 and a 200 day moving average of $162.88. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 1.57 and a beta of 1.04. Regal Rexnord has a 12 month low of $130.94 and a 12 month high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Monday, March 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 44.16%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RRX shares. Citigroup reduced their price target on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com downgraded shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird decreased their target price on Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group initiated coverage on Regal Rexnord in a research report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.00.

Read Our Latest Analysis on RRX

Insider Activity

In other news, CEO Louis V. Pinkham sold 8,774 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares in the company, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

About Regal Rexnord

(Get Free Report)

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.

Further Reading

Earnings History for Regal Rexnord (NYSE:RRX)

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