Seaport Res Ptn Predicts Reduced Earnings for Regal Rexnord

Regal Rexnord Co. (NYSE:RRX - Free Report) - Analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for Regal Rexnord in a report issued on Wednesday, November 6th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will earn $9.20 per share for the year, down from their previous forecast of $9.48. The consensus estimate for Regal Rexnord's current full-year earnings is $9.20 per share. Seaport Res Ptn also issued estimates for Regal Rexnord's Q4 2024 earnings at $2.43 EPS, Q3 2025 earnings at $2.68 EPS and Q1 2026 earnings at $10.45 EPS.

Regal Rexnord (NYSE:RRX - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.01. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted $2.10 earnings per share. The firm's revenue for the quarter was down 10.4% compared to the same quarter last year.

Several other equities analysts have also issued reports on RRX. The Goldman Sachs Group upped their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Citigroup began coverage on Regal Rexnord in a research note on Monday, October 14th. They issued a "buy" rating and a $200.00 target price on the stock. KeyCorp cut their target price on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Robert W. Baird cut their target price on Regal Rexnord from $223.00 to $208.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Barclays increased their target price on Regal Rexnord from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. One equities 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 stock has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Regal Rexnord Trading Down 2.2 %

Shares of RRX traded down $3.98 during trading hours on Friday, hitting $174.94. 379,157 shares of the stock traded hands, compared to its average volume of 452,727. 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 has a 1-year low of $105.11 and a 1-year high of $185.28. The firm has a market capitalization of $11.59 billion, a PE ratio of 55.73, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The business has a fifty day moving average of $165.87 and a 200-day moving average of $156.53.

Regal Rexnord Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend 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 currently 44.16%.

Institutional Investors Weigh In On Regal Rexnord

Several large investors have recently modified their holdings of RRX. CANADA LIFE ASSURANCE Co grew its holdings in shares of Regal Rexnord by 8.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 58,336 shares of the company's stock worth $10,515,000 after buying an additional 4,342 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Regal Rexnord by 161.4% during the first quarter. Blair William & Co. IL now owns 7,770 shares of the company's stock worth $1,399,000 after buying an additional 4,798 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Regal Rexnord by 18.6% during the first quarter. Westfield Capital Management Co. LP now owns 302,532 shares of the company's stock worth $54,486,000 after buying an additional 47,379 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of Regal Rexnord by 64.4% during the first quarter. TimesSquare Capital Management LLC now owns 466,475 shares of the company's stock worth $84,012,000 after buying an additional 182,770 shares in the last quarter. Finally, PEAK6 Investments LLC grew its holdings in shares of Regal Rexnord by 52.2% during the first quarter. PEAK6 Investments LLC now owns 28,696 shares of the company's stock worth $5,168,000 after buying an additional 9,848 shares in the last quarter. 99.72% of the stock is currently owned by institutional investors.

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.