Q2 2024 EPS Estimates for Regal Rexnord Co. Raised by Seaport Res Ptn (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX) – Research analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for Regal Rexnord in a note issued to investors on Monday, July 1st. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings of $2.11 per share for the quarter, up from their prior estimate of $2.10. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.73 per share. Seaport Res Ptn also issued estimates for Regal Rexnord’s Q3 2024 earnings at $2.40 EPS, Q4 2024 earnings at $2.99 EPS, Q1 2025 earnings at $2.38 EPS, Q2 2025 earnings at $2.70 EPS, Q3 2025 earnings at $2.94 EPS, Q4 2025 earnings at $3.48 EPS and FY2025 earnings at $11.50 EPS.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Regal Rexnord from a “buy” rating to a “hold” rating in a report on Thursday. Oppenheimer increased their target price on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. Robert W. Baird boosted their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. KeyCorp raised their price target on shares of 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 cut their price objective on Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Regal Rexnord has an average rating of “Moderate Buy” and an average target price of $192.00.

Regal Rexnord Stock Performance

RRX opened at $135.65 on Thursday. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The firm’s 50-day moving average price is $149.24 and its 200-day moving average price is $154.46. The company has a quick ratio of 1.56, a current ratio of 2.62 and a debt-to-equity ratio of 0.99. The company has a market cap of $9.02 billion, a P/E ratio of -282.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.06.

Regal Rexnord Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.03%. Regal Rexnord’s dividend payout ratio (DPR) is presently -291.67%.

Institutional Investors Weigh In On Regal Rexnord

A number of large investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Regal Rexnord in the first quarter valued at approximately $33,000. EntryPoint Capital LLC acquired a new position in Regal Rexnord in the first quarter valued at approximately $68,000. GAMMA Investing LLC acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $58,000. Riverview Trust Co acquired a new position in Regal Rexnord in the first quarter valued at approximately $75,000. Finally, ICA Group Wealth Management LLC acquired a new position in Regal Rexnord in the fourth quarter valued at approximately $70,000. 99.72% of the stock is currently owned by hedge funds and other institutional investors.

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.