Regal Rexnord (RRX) Set to Announce Quarterly Earnings on Monday

Regal Rexnord (NYSE:RRX - Get Free Report) is scheduled to issue its quarterly earnings data after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $2.45 per share for the quarter. Regal Rexnord has set its FY24 guidance at $9.40-9.80 EPS and its FY 2024 guidance at 9.400-9.800 EPS.Investors interested in participating in the company's conference call can do so using this link.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The company's quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the firm earned $2.56 EPS. On average, analysts expect Regal Rexnord to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Regal Rexnord Price Performance

Shares of RRX traded up $4.43 during trading hours on Monday, reaching $170.86. The company had a trading volume of 336,344 shares, compared to its average volume of 446,852. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The firm has a 50 day simple moving average of $164.34 and a 200-day simple moving average of $155.82. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of -8,589.00, a PEG ratio of 1.76 and a beta of 1.04.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord's dividend payout ratio (DPR) is -7,000.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RRX. Barclays lifted 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. KeyCorp dropped their target price on shares of Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Loop Capital reaffirmed a "buy" rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. StockNews.com raised shares of Regal Rexnord from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Finally, Citigroup initiated coverage on Regal Rexnord in a research report on Monday, October 14th. They set a "buy" rating and a $200.00 price objective for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $193.63.

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.