Regal Rexnord (NYSE:RRX) Updates FY 2024 Earnings Guidance

Regal Rexnord (NYSE:RRX) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 9.150-9.450 for the period, compared to the consensus earnings per share estimate of 9.450. The company issued revenue guidance of -.

Regal Rexnord Stock Down 2.2 %

Shares of RRX opened at $175.06 on Friday. The firm has a market cap 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 stock’s 50 day moving average is $166.02 and its two-hundred day moving average is $156.53. 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 released its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Analysts predict that Regal Rexnord will post 9.2 earnings per share for the current fiscal year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.80%. Regal Rexnord’s dividend payout ratio (DPR) is presently 44.16%.

Analyst Ratings Changes

Several equities research analysts have commented on RRX shares. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. The Goldman Sachs Group raised their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird dropped their target price on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Barclays raised their price target on shares of Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.