Regal Rexnord (RRX) Scheduled to Post Earnings on Monday

Regal Rexnord (NYSE:RRX) will be announcing its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Regal Rexnord has set its FY24 guidance at $9.75-10.55 EPS and its FY 2024 guidance at 9.750-10.550 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.02. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.64 EPS. On average, analysts expect Regal Rexnord to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Regal Rexnord Trading Up 1.6 %

Regal Rexnord stock opened at $165.08 on Friday. The business has a 50 day moving average price of $169.91 and a two-hundred day moving average price of $145.81. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of -189.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.85%. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RRX. Barclays upped their price target on Regal Rexnord from $200.00 to $203.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. KeyCorp upped their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer upped their price target on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord currently has an average rating of “Moderate Buy” and an average target price of $197.00.

Insider Transactions at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now directly owns 15,884 shares of the company’s stock, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Thomas E. Valentyn sold 647 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total transaction of $109,795.90. Following the sale, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,570 shares of company stock valued at $892,301. Corporate insiders own 0.82% of the company’s stock.

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.