Regal Rexnord (NYSE:RRX) Releases FY 2022 Earnings Guidance

Regal Rexnord (NYSE:RRXGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $10.20-$10.80 for the period, compared to the consensus estimate of $10.49. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RRX. Robert W. Baird upped their price objective on Regal Rexnord from $146.00 to $158.00 in a research report on Wednesday. The Goldman Sachs Group decreased their price target on Regal Rexnord from $181.00 to $150.00 and set a buy rating for the company in a research note on Thursday, June 23rd. StockNews.com upgraded shares of Regal Rexnord from a hold rating to a buy rating in a research note on Friday, July 8th. KeyCorp lowered their price target on shares of Regal Rexnord from $185.00 to $155.00 and set an overweight rating on the stock in a report on Tuesday, July 12th. Finally, Barclays upped their price objective on shares of Regal Rexnord from $140.00 to $157.00 in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $162.60.

Regal Rexnord Trading Down 0.1 %

Shares of NYSE:RRX traded down $0.09 during midday trading on Friday, reaching $136.67. The company’s stock had a trading volume of 210,051 shares, compared to its average volume of 440,968. The business has a 50 day moving average price of $120.64 and a 200 day moving average price of $137.54. Regal Rexnord has a 1 year low of $108.28 and a 1 year high of $176.91. The company has a quick ratio of 1.55, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27.

Regal Rexnord (NYSE:RRXGet Rating) last announced its quarterly earnings data on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.15. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Regal Rexnord had a return on equity of 11.15% and a net margin of 6.99%. Regal Rexnord’s revenue for the quarter was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 earnings per share. Research analysts forecast that Regal Rexnord will post 10.63 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, September 29th. Regal Rexnord’s dividend payout ratio (DPR) is presently 25.00%.

Institutional Trading of Regal Rexnord

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in Regal Rexnord in the first quarter worth $978,777,000. Capital World Investors bought a new stake in Regal Rexnord in the first quarter valued at about $793,975,000. State Street Corp bought a new stake in shares of Regal Rexnord in the first quarter worth about $266,837,000. Clearbridge Investments LLC bought a new stake in shares of Regal Rexnord in the first quarter worth about $154,043,000. Finally, Wellington Management Group LLP acquired a new position in shares of Regal Rexnord during the first quarter worth about $143,144,000. Institutional investors and hedge funds own 98.16% of the company’s stock.

About Regal Rexnord

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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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Earnings History and Estimates for Regal Rexnord (NYSE:RRX)

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