Regal Rexnord Co. (NYSE:RRX) Announces $0.35 Quarterly Dividend

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Monday, January 27th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.35 per share on Monday, April 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Monday, March 31st.

Regal Rexnord has increased its dividend by an average of 2.8% per year over the last three years. Regal Rexnord has a dividend payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Regal Rexnord to earn $11.69 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.0%.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $118.03 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.26 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average price is $136.06 and its two-hundred day moving average price is $155.56. Regal Rexnord has a 52-week low of $113.73 and a 52-week high of $185.28. The stock has a market capitalization of $7.82 billion, a P/E ratio of 40.01, a P/E/G ratio of 1.37 and a beta of 1.11.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Wednesday, February 5th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a net margin of 3.25% and a return on equity of 9.57%. As a group, sell-side analysts forecast that Regal Rexnord will post 9.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RRX. Oppenheimer cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Jefferies Financial Group began coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 price target on the stock. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com lowered Regal Rexnord from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $195.13.

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.