Regal Rexnord (NYSE:RRX) Releases FY 2024 Earnings Guidance

Regal Rexnord (NYSE:RRX - Get Free Report) 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 -.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RRX. StockNews.com upgraded Regal Rexnord from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th. Robert W. Baird cut their target price 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. The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. KeyCorp cut their price objective on Regal Rexnord from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Finally, Loop Capital reissued a "buy" rating and set a $200.00 target price on shares of Regal Rexnord in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Regal Rexnord currently has an average rating of "Moderate Buy" and an average target price of $193.00.

Regal Rexnord Stock Down 2.2 %

NYSE RRX traded down $3.98 during trading on Friday, reaching $174.94. 379,157 shares of the company's stock were exchanged, compared to its average volume of 452,727. The company has a 50 day moving average price of $166.02 and a two-hundred day moving average price of $156.61. The stock has a market cap of $11.59 billion, a P/E ratio of 55.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. Regal Rexnord has a 1 year low of $105.11 and a 1 year high of $185.28. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord (NYSE:RRX - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.53 billion. Regal Rexnord had a return on equity of 9.48% and a net margin of 3.41%. The firm's revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 earnings per share. On average, equities research analysts anticipate that Regal Rexnord will post 9.2 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.40 dividend on an annualized basis and a yield of 0.80%. Regal Rexnord's dividend payout ratio (DPR) is presently 44.16%.

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.