Regal Rexnord (NYSE:RRX - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 9.600-10.400 for the period, compared to the consensus earnings per share estimate of 10.130. The company issued revenue guidance of -. Regal Rexnord also updated its FY24 guidance to $9.60-$10.40 EPS.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th. KeyCorp lifted their price objective on Regal Rexnord from $180.00 to $210.00 and gave the company an overweight rating in a report on Monday, March 25th. Finally, Barclays lifted their price objective on Regal Rexnord from $200.00 to $203.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $197.00.
Check Out Our Latest Stock Analysis on RRX
Regal Rexnord Stock Up 2.3 %
Shares of RRX traded up $3.78 during mid-day trading on Monday, hitting $168.86. 605,480 shares of the company traded hands, compared to its average volume of 455,418. The business has a 50 day moving average of $169.94 and a 200 day moving average of $146.36. The company has a market capitalization of $11.23 billion, a PE ratio of -194.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The company has a quick ratio of 1.59, a current ratio of 2.55 and a debt-to-equity ratio of 1.00.
Regal Rexnord (NYSE:RRX - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.02. Regal Rexnord had a positive return on equity of 9.58% and a negative net margin of 0.92%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the firm earned $2.64 earnings per share. Regal Rexnord's revenue for the quarter was up 29.2% on a year-over-year basis. Equities research analysts anticipate that Regal Rexnord will post 10.05 EPS for the current year.
Regal Rexnord Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.83%. Regal Rexnord's dividend payout ratio (DPR) is -160.92%.
Insider Buying and Selling
In other news, EVP Jerrald R. Morton sold 2,992 shares of Regal Rexnord stock in a transaction dated Monday, February 12th. The shares were 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 SEC, which can be accessed through the SEC website. In related news, EVP Jerrald R. Morton sold 2,992 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $154.34, for a total value of $461,785.28. Following the completion of the transaction, the executive vice president now directly owns 15,884 shares of the company's stock, valued at approximately $2,451,536.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 1,931 shares of Regal Rexnord stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $166.09, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 5,570 shares of company stock valued at $892,301. 0.82% of the stock is owned by corporate insiders.
About Regal Rexnord
(
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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.
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