Regal Rexnord Co. (NYSE:RRX) Expected to Announce Quarterly Sales of $1.25 Billion

Equities analysts expect Regal Rexnord Co. (NYSE:RRXGet Rating) to announce $1.25 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Regal Rexnord’s earnings, with the lowest sales estimate coming in at $1.25 billion and the highest estimate coming in at $1.26 billion. Regal Rexnord posted sales of $814.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 53.5%. The business is expected to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Regal Rexnord will report full year sales of $5.18 billion for the current financial year, with estimates ranging from $5.16 billion to $5.19 billion. For the next fiscal year, analysts forecast that the company will post sales of $5.38 billion, with estimates ranging from $5.34 billion to $5.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Regal Rexnord.

Regal Rexnord (NYSE:RRXGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The company reported $2.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.16 by ($0.02). Regal Rexnord had a return on equity of 11.56% and a net margin of 5.51%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was up 55.9% on a year-over-year basis.

Several research analysts have weighed in on the company. Zacks Investment Research cut Regal Rexnord from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th. Robert W. Baird cut their price objective on Regal Rexnord from $204.00 to $190.00 in a research report on Friday, February 4th. Finally, Barclays dropped their price target on Regal Rexnord from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th.

RRX stock opened at $134.36 on Thursday. The stock has a fifty day simple moving average of $150.08. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.48 and a current ratio of 2.49. Regal Rexnord has a 1-year low of $125.42 and a 1-year high of $176.91. The stock has a market capitalization of $9.03 billion, a PE ratio of 25.99, a P/E/G ratio of 1.37 and a beta of 1.20.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Wednesday, June 29th. This is a boost from Regal Rexnord’s previous quarterly dividend of $0.33. Regal Rexnord’s dividend payout ratio is currently 25.53%.

In related news, Director Curtis W. Stoelting sold 805 shares of the business’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $159.72, for a total transaction of $128,574.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Christopher L. Doerr sold 2,210 shares of the business’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $159.73, for a total value of $353,003.30. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RRX. Allspring Global Investments Holdings LLC bought a new position in Regal Rexnord in the 1st quarter worth about $125,154,000. Mountain Pacific Investment Advisers Inc. ID bought a new position in Regal Rexnord in the 1st quarter worth about $30,403,000. Retirement Systems of Alabama bought a new position in Regal Rexnord in the 1st quarter worth about $24,291,000. Scout Investments Inc. bought a new position in Regal Rexnord in the 1st quarter worth about $15,278,000. Finally, Wedge Capital Management L L P NC bought a new position in Regal Rexnord in the 1st quarter worth about $13,537,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

About Regal Rexnord (Get Rating)

Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.

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