Equities Analysts Set Expectations for Regal Rexnord Co.'s FY2024 Earnings (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX - Free Report) - Equities research analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for shares of Regal Rexnord in a note issued to investors on Wednesday, May 8th. Seaport Res Ptn analyst W. Liptak now expects that the company will post earnings of $9.91 per share for the year, down from their previous estimate of $10.00. The consensus estimate for Regal Rexnord's current full-year earnings is $10.05 per share. Seaport Res Ptn also issued estimates for Regal Rexnord's Q1 2025 earnings at $2.43 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $3.12 EPS and FY2025 earnings at $11.73 EPS.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.98 by $0.02. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The business's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 EPS.

Other research analysts also recently issued reports about the company. Oppenheimer boosted their target price on Regal Rexnord from $185.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. Barclays dropped their target price on Regal Rexnord from $203.00 to $199.00 and set an "overweight" rating on the stock in a research note on Wednesday. Robert W. Baird boosted their target price on Regal Rexnord from $205.00 to $208.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, KeyCorp boosted their price target on Regal Rexnord from $180.00 to $210.00 and gave the company an "overweight" rating in a research note on Monday, March 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Regal Rexnord currently has a consensus rating of "Moderate Buy" and an average target price of $195.60.

Regal Rexnord Stock Up 2.3 %

Shares of RRX traded up $3.63 during trading hours on Thursday, hitting $161.00. The company had a trading volume of 327,245 shares, compared to its average volume of 463,133. The company has a market capitalization of $10.71 billion, a PE ratio of -185.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a current ratio of 2.55, a quick ratio of 1.59 and a debt-to-equity ratio of 1.00. Regal Rexnord has a one year low of $97.18 and a one year high of $183.85. The company's fifty day moving average price is $169.23 and its two-hundred day moving average price is $146.78.

Hedge Funds Weigh In On Regal Rexnord

A number of large investors have recently bought and sold shares of the business. Cary Street Partners Investment Advisory LLC increased its stake in Regal Rexnord by 652.2% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Rise Advisors LLC purchased a new position in Regal Rexnord in the first quarter valued at $33,000. GAMMA Investing LLC purchased a new position in Regal Rexnord in the fourth quarter valued at $58,000. ICA Group Wealth Management LLC purchased a new position in Regal Rexnord in the fourth quarter valued at $70,000. Finally, Riverview Trust Co acquired a new position in shares of Regal Rexnord during the 1st quarter worth about $75,000. Institutional investors and hedge funds own 99.72% of the company's stock.

Insider Transactions at Regal Rexnord

In other news, EVP Jerrald R. Morton sold 2,992 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Jerrald R. Morton sold 2,992 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas E. Valentyn sold 647 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $169.70, for a total value of $109,795.90. Following the completion of the transaction, the executive vice president now directly owns 28,412 shares of the company's stock, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold 5,570 shares of company stock worth $892,301 over the last quarter. 0.82% of the stock is currently owned by insiders.

Regal Rexnord Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 0.87%. Regal Rexnord's payout ratio is presently -160.92%.

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.