Regal Rexnord Co. (NYSE:RRX) Plans $0.35 Quarterly Dividend

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.35 per share on Tuesday, January 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, December 31st.

Regal Rexnord has raised its dividend by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 19 years. Regal Rexnord has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Rexnord to earn $11.38 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.3%.

Regal Rexnord Stock Down 1.0 %

RRX traded down $1.62 during trading on Friday, reaching $166.43. The stock had a trading volume of 343,176 shares, compared to its average volume of 447,386. The stock’s 50 day moving average is $164.34 and its two-hundred day moving average is $156.01. The company has a current ratio of 2.45, a quick ratio of 1.38 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of -346.92, a P/E/G ratio of 1.79 and a beta of 1.04. Regal Rexnord has a one year low of $97.18 and a one year high of $183.85.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.15. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company earned $2.56 earnings per share. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, analysts expect that Regal Rexnord will post 9.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RRX. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Raymond James began coverage on Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Barclays increased their price objective on Regal Rexnord from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Loop Capital reaffirmed a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research report on Thursday, September 19th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Regal Rexnord presently has an average rating of “Moderate Buy” and an average target price of $193.63.

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.