Regal Rexnord (NYSE:RRX) Issues 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 Ratings Changes

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

Regal Rexnord Stock Performance

Shares of RRX stock traded down $11.49 on Tuesday, reaching $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 12 month low of $97.18 and a 12 month high of $183.85. The firm has a market capitalization 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 firm’s 50-day moving average is $169.94 and its two-hundred day moving average is $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 (EPS) 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 for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $2.22 earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, research analysts expect that Regal Rexnord will post 10.05 EPS for the current fiscal year.

Regal Rexnord Announces Dividend

The business 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 dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. Regal Rexnord’s dividend payout ratio (DPR) is -160.92%.

Insider Buying and Selling at Regal Rexnord

In other news, EVP Thomas E. Valentyn sold 1,931 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $166.09, for a total transaction of $320,719.79. Following the completion of the sale, the executive vice president now owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 1,931 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the transaction, the executive vice president now directly owns 27,180 shares of the company’s stock, valued at approximately $4,514,326.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $154.34, for a total transaction of $461,785.28. Following the completion of the transaction, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 over the last ninety days. 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.