Regal Rexnord (NYSE:RRX) Releases 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 (EPS) guidance of 9.150-9.450 for the period, compared to the consensus estimate of 9.450. The company issued revenue guidance of -.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $178.89 on Friday. The company has a market cap of $11.90 billion, a PE ratio of 56.43, a P/E/G ratio of 1.80 and a beta of 1.04. Regal Rexnord has a fifty-two week low of $101.64 and a fifty-two week high of $185.28. The firm has a 50-day simple moving average of $165.87 and a 200 day simple moving average of $156.53. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last posted its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.48 by $0.01. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.53 billion. Regal Rexnord had a return on equity of 9.53% and a net margin of 3.41%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 earnings per share. On average, sell-side analysts anticipate that Regal Rexnord will post 9.48 EPS for the current year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s payout ratio is 44.16%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup started coverage on shares of Regal Rexnord in a research report on Monday, October 14th. They set a “buy” rating and a $200.00 price target for the company. Robert W. Baird dropped their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, KeyCorp reduced their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord currently has an average rating of “Moderate Buy” and an average 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.