Regal Rexnord (NYSE:RRX – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $9.40-9.80 for the period, compared to the consensus estimate of $9.52.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on RRX. Raymond James started coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a market perform rating on the stock. StockNews.com upgraded Regal Rexnord from a hold rating to a buy rating in a research note on Monday, August 5th. Robert W. Baird increased their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an outperform rating in a research note on Friday, August 2nd. KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an overweight rating on the stock in a report on Monday, July 15th. Finally, The Goldman Sachs Group upped their price target on Regal Rexnord from $176.00 to $195.00 and gave the stock a buy rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Regal Rexnord presently has an average rating of Moderate Buy and a consensus price target of $189.83.
Regal Rexnord Stock Performance
Regal Rexnord (NYSE:RRX – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. During the same period last year, the firm earned $2.56 EPS. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. Sell-side analysts expect that Regal Rexnord will post 9.53 EPS for the current year.
Regal Rexnord Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Regal Rexnord’s payout ratio is presently -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.
See Also
- Five stocks we like better than Regal Rexnord
- What Are the FAANG Stocks and Are They Good Investments?
- Intuitive Machines Soars: NASA Contract Fuels Lunar Ambitions
- What Are the U.K. Market Holidays? How to Invest and Trade
- 3 Beaten-Down Stocks Ready for a Comeback
- What is an Earnings Surprise?
- 3 Stocks to Neutralize Market Volatility and Build Wealth
Receive News & Ratings for Regal Rexnord Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Rexnord and related companies with MarketBeat.com's FREE daily email newsletter.