Regal Rexnord (RRX) Scheduled to Post Quarterly Earnings on Monday

Regal Rexnord (NYSE:RRX) is set to release its earnings data after the market closes on Monday, May 6th. Analysts expect Regal Rexnord to post earnings of $1.98 per share for the quarter. Regal Rexnord has set its FY24 guidance at $9.75-10.55 EPS and its FY 2024 guidance at 9.750-10.550 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. Regal Rexnord’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.64 EPS. On average, analysts expect Regal Rexnord to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Regal Rexnord Price Performance

Shares of RRX stock opened at $165.08 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The stock’s fifty day simple moving average is $169.91 and its 200 day simple moving average is $145.91. Regal Rexnord has a one year low of $97.18 and a one year high of $183.85. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of -189.74, a P/E/G ratio of 1.62 and a beta of 1.16.

Regal Rexnord Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. Regal Rexnord’s dividend payout ratio is presently -160.92%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRX. Barclays lifted their price target on shares of Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Oppenheimer lifted their target price on shares of Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Finally, KeyCorp increased their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $197.00.

Insiders Place Their Bets

In other news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at $2,451,536.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,570 shares of company stock valued at $892,301. Insiders own 0.82% of the company’s stock.

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.