Regal Rexnord (RRX) Projected to Post Earnings on Wednesday

Regal Rexnord (NYSE:RRX) is projected to announce its earnings results after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of $2.56 per share and revenue of $1.49 billion for the quarter. Regal Rexnord has set its FY24 guidance at $9.15-$9.45 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Monday, November 4th. The company reported $2.49 EPS for the quarter, topping 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts expect Regal Rexnord to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Regal Rexnord Trading Down 1.2 %

RRX opened at $160.90 on Wednesday. The company’s 50 day moving average is $163.06 and its 200-day moving average is $162.88. The company has a market cap of $10.66 billion, a P/E ratio of 50.76, a PEG ratio of 1.57 and a beta of 1.04. Regal Rexnord has a 1-year low of $130.94 and a 1-year high of $185.28. The company has a current ratio of 2.45, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.87%. Regal Rexnord’s payout ratio is presently 44.16%.

Insiders Place Their Bets

In related news, CEO Louis V. Pinkham sold 8,774 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $180.03, for a total transaction of $1,579,583.22. Following the transaction, the chief executive officer now directly owns 149,618 shares of the company’s stock, valued at approximately $26,935,728.54. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RRX shares. Citigroup lowered their target price on Regal Rexnord from $210.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays dropped their price objective on shares of Regal Rexnord from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of Regal Rexnord from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. Robert W. Baird cut their price target on shares of Regal Rexnord from $223.00 to $208.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on Regal Rexnord from $191.00 to $213.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.00.

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.