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

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

Analyst Ratings Changes

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

Regal Rexnord Trading Up 2.3 %

Shares of NYSE:RRX traded up $3.77 during trading on Monday, reaching $168.85. 605,440 shares of the company were exchanged, compared to its average volume of 455,418. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The business’s fifty day simple moving average is $169.91 and its 200-day simple moving average is $146.05. The firm has a market capitalization of $11.23 billion, a PE ratio of -192.89, a P/E/G ratio of 1.64 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 (NYSE:RRX) last released its earnings results 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. Regal Rexnord had a negative net margin of 0.92% and a positive return on equity of 9.58%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm earned $2.64 EPS. Regal Rexnord’s revenue was up 29.2% compared to the same quarter last year. On average, research analysts anticipate that Regal Rexnord will post 10.05 EPS for the current year.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. Regal Rexnord’s dividend payout ratio (DPR) is currently -160.92%.

Insider Activity

In other Regal Rexnord 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 transaction, the executive vice president now owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord 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 sale, the executive vice president now owns 27,180 shares in the company, valued at $4,514,326.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the firm’s 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 completion of the transaction, 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. Insiders have sold 5,570 shares of company stock worth $892,301 in the last ninety days. Company insiders own 0.82% of the company’s stock.

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.