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

Regal Rexnord Co. (NYSE:RRX) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for shares of Regal Rexnord in a research note issued to investors on Wednesday, May 8th. Seaport Res Ptn analyst W. Liptak now anticipates that the company will post earnings of $9.91 per share for the year, down from their previous estimate of $10.00. The consensus estimate for Regal Rexnord’s current full-year earnings is $10.05 per share. Seaport Res Ptn also issued estimates for Regal Rexnord’s Q1 2025 earnings at $2.43 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $3.12 EPS and FY2025 earnings at $11.73 EPS.

RRX has been the subject of a number of other research reports. KeyCorp boosted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Barclays lowered their price objective on Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday. Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Oppenheimer lifted their price objective on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Regal Rexnord presently has a consensus rating of “Moderate Buy” and an average price target of $195.60.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $161.00 on Thursday. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of -185.06, a PEG ratio of 1.64 and a beta of 1.16. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. Regal Rexnord has a 52 week low of $97.18 and a 52 week high of $183.85. The company has a 50-day simple moving average of $169.23 and a 200 day simple moving average of $146.78.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.22 earnings per share.

Hedge Funds Weigh In On Regal Rexnord

A number of institutional investors have recently added to or reduced their stakes in RRX. Norges Bank bought a new position in Regal Rexnord in the fourth quarter valued at about $180,918,000. Third Point LLC acquired a new stake in Regal Rexnord during the 3rd quarter worth approximately $92,872,000. The Manufacturers Life Insurance Company increased its position in Regal Rexnord by 167.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 948,346 shares of the company’s stock valued at $140,374,000 after acquiring an additional 593,862 shares during the period. William Blair Investment Management LLC bought a new position in shares of Regal Rexnord during the third quarter valued at $71,899,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Regal Rexnord by 87.3% during the fourth quarter. Franklin Resources Inc. now owns 1,001,545 shares of the company’s stock worth $148,249,000 after purchasing an additional 466,820 shares during the period. 99.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $169.70, for a total value of $109,795.90. Following the transaction, the executive vice president now directly owns 28,412 shares of the company’s stock, valued at $4,821,516.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total value of $320,719.79. Following the completion of the sale, the executive vice president now directly owns 27,180 shares in the company, valued at $4,514,326.20. The disclosure for this sale can be found here. Insiders have sold 5,570 shares of company stock worth $892,301 over the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.87%. Regal Rexnord’s dividend payout ratio is -160.92%.

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.