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

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

Regal Rexnord Trading Down 0.1 %

NYSE RRX traded down $0.09 on Friday, reaching $136.67. The stock had a trading volume of 210,051 shares, compared to its average volume of 440,968. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.27 and a beta of 1.27. The company has a quick ratio of 1.55, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. Regal Rexnord has a 12-month low of $108.28 and a 12-month high of $176.91. The stock has a fifty day moving average price of $120.64 and a two-hundred day moving average price of $137.54.

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

Regal Rexnord Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 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 1.02%. The ex-dividend date is Thursday, September 29th. Regal Rexnord’s dividend payout ratio is currently 25.00%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Regal Rexnord

Large investors have recently bought and sold shares of the business. US Bancorp DE acquired a new position in Regal Rexnord in the first quarter valued at $702,000. Citigroup Inc. acquired a new position in Regal Rexnord in the first quarter valued at $3,124,000. AlphaCrest Capital Management LLC acquired a new position in Regal Rexnord in the first quarter valued at $347,000. Great West Life Assurance Co. Can acquired a new position in Regal Rexnord in the first quarter valued at $5,758,000. Finally, Synovus Financial Corp acquired a new position in Regal Rexnord in the first quarter valued at $1,608,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.

Regal Rexnord Company Profile

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

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