Regal Rexnord (NYSE:RRX) Releases FY24 Earnings Guidance

Regal Rexnord (NYSE:RRX) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $9.15-$9.45 for the period, compared to the consensus estimate of $9.45.

Regal Rexnord Trading Up 0.7 %

Regal Rexnord stock traded up $1.20 during trading on Monday, hitting $170.22. The company’s stock had a trading volume of 549,107 shares, compared to its average volume of 446,709. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of -8,577.50, a P/E/G ratio of 1.76 and a beta of 1.04. The stock’s fifty day moving average is $165.12 and its 200 day moving average is $156.03. Regal Rexnord has a 1-year low of $100.00 and a 1-year high of $183.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, December 31st. Regal Rexnord’s dividend payout ratio is presently -7,000.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RRX shares. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. The Goldman Sachs Group upped their target price on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital restated a “buy” rating and set a $200.00 target price on shares of Regal Rexnord in a report on Thursday, September 19th. Barclays increased their price objective on shares of Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, KeyCorp lowered their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.