FY2024 EPS Estimates for Regal Rexnord Co. Cut by Analyst (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX) – Seaport Res Ptn lowered their FY2024 earnings per share (EPS) estimates for shares of Regal Rexnord in a research report issued on Monday, July 1st. Seaport Res Ptn analyst W. Liptak now anticipates that the company will post earnings per share of $9.50 for the year, down from their previous forecast of $9.79. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.83 per share.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.02. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share.

Other equities research analysts also recently issued research reports about the company. Oppenheimer lifted their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. KeyCorp lifted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 25th. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Raymond James assumed coverage on Regal Rexnord in a research report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Barclays lowered their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $192.00.

Regal Rexnord Stock Performance

Regal Rexnord stock opened at $133.86 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. The stock has a fifty day moving average of $150.34 and a two-hundred day moving average of $154.72. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Regal Rexnord by 13.9% during the second quarter. GAMMA Investing LLC now owns 647 shares of the company’s stock worth $87,000 after acquiring an additional 79 shares during the last quarter. Xponance Inc. grew its holdings in shares of Regal Rexnord by 1.2% during the fourth quarter. Xponance Inc. now owns 8,003 shares of the company’s stock valued at $1,185,000 after purchasing an additional 91 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Regal Rexnord by 2.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,808 shares of the company’s stock valued at $686,000 after purchasing an additional 95 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Regal Rexnord by 3.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,282 shares of the company’s stock valued at $591,000 after purchasing an additional 102 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Regal Rexnord by 2.1% during the third quarter. Mariner LLC now owns 5,525 shares of the company’s stock valued at $789,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 99.72% of the company’s stock.

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio is presently -291.67%.

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.