Regal Rexnord (NYSE:RRX) Releases FY 2024 Earnings Guidance

Regal Rexnord (NYSE:RRX) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 9.600-10.400 for the period, compared to the consensus estimate of 10.130. The company issued revenue guidance of -. Regal Rexnord also updated its FY24 guidance to $9.60-$10.40 EPS.

Analyst Upgrades and Downgrades

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

Regal Rexnord Price Performance

NYSE RRX traded down $11.49 during mid-day trading on Tuesday, hitting $157.36. The stock had a trading volume of 1,305,398 shares, compared to its average volume of 465,098. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The company has a market cap of $10.46 billion, a price-to-earnings ratio of -182.29, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a 50 day simple moving average of $169.94 and a 200 day simple moving average of $146.36. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.

Regal Rexnord (NYSE:RRX) last released its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $2.22 EPS. Regal Rexnord’s quarterly revenue was up 26.4% on a year-over-year basis. Equities analysts forecast that Regal Rexnord will post 10.05 EPS for the current fiscal year.

Regal Rexnord Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, June 28th. Regal Rexnord’s dividend payout ratio (DPR) is presently -160.92%.

Insider Buying and Selling at Regal Rexnord

In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at approximately $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is owned by insiders.

About Regal Rexnord

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.