Regal Rexnord (RRX) Set to Announce Earnings on Monday

Regal Rexnord (NYSE:RRX) is scheduled to issue its quarterly earnings data after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of $1.98 per share for the quarter. Regal Rexnord has set its FY24 guidance at $9.75-10.55 EPS and its FY 2024 guidance at 9.750-10.550 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm earned $2.64 earnings per share. The company’s revenue was up 29.2% on a year-over-year basis. On average, analysts expect Regal Rexnord to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $164.11 on Monday. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.59 and a current ratio of 2.55. The stock’s 50-day simple moving average is $169.93 and its 200-day simple moving average is $144.92.

Regal Rexnord Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.85%. Regal Rexnord’s payout ratio is -160.92%.

Insider Activity at Regal Rexnord

In related news, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the sale, the executive vice president now owns 15,884 shares in the company, valued at $2,451,536.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Regal Rexnord news, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the sale, the executive vice president now owns 28,412 shares in the company, valued at approximately $4,821,516.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jerrald R. Morton sold 2,992 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the sale, the executive vice president now owns 15,884 shares in the company, valued at approximately $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 quarter. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RRX shares. Barclays boosted their price target on Regal Rexnord from $200.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Finally, Oppenheimer boosted their price target on Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $197.00.

Regal Rexnord Company Profile

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.