Regal Rexnord Corporation (RRX) To Go Ex-Dividend on June 30th

Regal Rexnord Corporation (NYSE:RRX) declared a quarterly dividend on Monday, April 27th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.35 per share on Tuesday, July 14th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 30th.

Regal Rexnord has raised its dividend by an average of 0.0%annually over the last three years. Regal Rexnord has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Rexnord to earn $13.49 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 10.4%.

Regal Rexnord Stock Performance

NYSE RRX opened at $220.63 on Friday. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 51.31, a PEG ratio of 2.06 and a beta of 1.11. Regal Rexnord has a twelve month low of $127.96 and a twelve month high of $236.35. The stock has a fifty day simple moving average of $210.45 and a 200 day simple moving average of $189.93. The company has a quick ratio of 1.08, a current ratio of 2.17 and a debt-to-equity ratio of 0.69.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $2.15 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Regal Rexnord will post 10.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RRX shares. DA Davidson started coverage on Regal Rexnord in a research report on Tuesday, June 16th. They set a “buy” rating and a $260.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Regal Rexnord from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 28th. UBS Group set a $260.00 price target on shares of Regal Rexnord in a research report on Monday, June 15th. Finally, Barclays upped their price objective on shares of Regal Rexnord from $237.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Regal Rexnord has an average rating of “Moderate Buy” and an average target price of $237.80.

About Regal Rexnord

Regal Rexnord Corporation (NYSE: RRX) is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company’s operations are organized into multiple business segments that address distinct customer needs.