Regal Rexnord Co. Forecasted to Post FY2024 Earnings of $9.48 Per Share (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX) – Investment analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Regal Rexnord in a research report issued to clients and investors on Thursday, August 8th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings per share of $9.48 for the year, down from their prior forecast of $9.50. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.48 per share. Seaport Res Ptn also issued estimates for Regal Rexnord’s Q4 2024 earnings at $2.74 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.82 EPS, Q4 2025 earnings at $3.19 EPS and FY2025 earnings at $11.29 EPS.

Several other research analysts have also commented on RRX. Robert W. Baird raised their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Raymond James began coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They set a “market perform” rating for the company. Barclays cut their price target on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, KeyCorp cut their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.83.

Regal Rexnord Stock Performance

Shares of RRX opened at $153.44 on Friday. Regal Rexnord has a 1 year low of $97.18 and a 1 year high of $183.85. The company’s 50 day simple moving average is $144.77 and its 200 day simple moving average is $155.72. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of -319.67, a PEG ratio of 1.58 and a beta of 1.06. 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 (NYSE:RRX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned $2.56 earnings per share. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently made changes to their positions in RRX. Vanguard Group Inc. increased its position in shares of Regal Rexnord by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,788,594 shares of the company’s stock valued at $1,004,848,000 after acquiring an additional 24,847 shares during the last quarter. Capital World Investors raised its stake in shares of Regal Rexnord by 4.7% during the 1st quarter. Capital World Investors now owns 6,599,752 shares of the company’s stock worth $1,188,615,000 after purchasing an additional 296,941 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Regal Rexnord by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,532,578 shares of the company’s stock valued at $522,892,000 after buying an additional 135,154 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Regal Rexnord by 7.1% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,181,886 shares of the company’s stock worth $430,255,000 after buying an additional 209,776 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Regal Rexnord by 42.7% during the second quarter. Victory Capital Management Inc. now owns 1,884,575 shares of the company’s stock worth $254,832,000 after acquiring an additional 563,853 shares in the last quarter. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.91%. Regal Rexnord’s dividend payout ratio (DPR) is -291.67%.

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.