Regal Rexnord (RRX) to Release Earnings on Monday

Regal Rexnord (NYSE:RRX) is scheduled to be releasing its earnings data after the market closes on Monday, November 4th. Analysts expect Regal Rexnord to post earnings of $2.45 per share for the quarter. Regal Rexnord has set its FY24 guidance at $9.40-9.80 EPS and its FY 2024 guidance at 9.400-9.800 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business’s revenue was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.56 earnings per share. On average, analysts expect Regal Rexnord to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Regal Rexnord Stock Performance

Shares of NYSE RRX opened at $166.43 on Monday. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The stock has a 50 day simple moving average of $164.34 and a 200-day simple moving average of $155.82. The company has a market cap of $11.07 billion, a PE ratio of -346.73, a P/E/G ratio of 1.79 and a beta of 1.04. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85.

Regal Rexnord Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 0.84%. Regal Rexnord’s dividend payout ratio is presently -291.67%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RRX. Barclays boosted their target price on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Citigroup began coverage on Regal Rexnord in a report on Monday, October 14th. They set a “buy” rating and a $200.00 target price on the stock. KeyCorp dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Loop Capital reissued a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Finally, Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.63.

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.