Seaport Res Ptn Research Analysts Cut Earnings Estimates for Regal Rexnord Co. (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX - Free Report) - Seaport Res Ptn cut their Q2 2024 earnings estimates for Regal Rexnord in a research report issued on Wednesday, May 8th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings of $2.10 per share for the quarter, down from their prior forecast of $2.58. 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 Q3 2024 earnings at $2.66 EPS, Q4 2024 earnings at $3.03 EPS and Q4 2025 earnings at $3.51 EPS.

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

Regal Rexnord Stock Performance

RRX traded up $0.20 on Friday, hitting $161.20. The company had a trading volume of 273,204 shares, compared to its average volume of 461,045. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.55 and a quick ratio of 1.59. The company's fifty day moving average price is $169.23 and its 200 day moving average price is $146.78. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of -185.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

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

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors 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 dividend payout ratio is -160.92%.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 647 shares of the business'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 transaction of $109,795.90. Following the sale, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Thomas E. Valentyn sold 1,931 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total value of $320,719.79. Following the sale, the executive vice president now directly owns 27,180 shares in the company, valued at approximately $4,514,326.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the firm'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 transaction, the executive vice president now 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. In the last quarter, insiders sold 5,570 shares of company stock worth $892,301. 0.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Cary Street Partners Investment Advisory LLC lifted its position in Regal Rexnord by 652.2% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 173 shares of the company's stock worth $25,000 after buying an additional 150 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Regal Rexnord during the first quarter worth approximately $33,000. GAMMA Investing LLC bought a new stake in shares of Regal Rexnord during the fourth quarter valued at approximately $58,000. ICA Group Wealth Management LLC acquired a new stake in shares of Regal Rexnord in the fourth quarter valued at approximately $70,000. Finally, Riverview Trust Co bought a new position in Regal Rexnord in the 1st quarter worth approximately $75,000. 99.72% of the stock is currently owned by institutional investors and hedge funds.

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.