Regal Rexnord (NYSE:RRX – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $10.20-$10.80 for the period, compared to the consensus earnings per share estimate of $10.49. The company issued revenue guidance of -.
Analysts Set New Price Targets
A number of brokerages have issued reports on RRX. Robert W. Baird upped their price target on shares of Regal Rexnord from $146.00 to $158.00 in a research note on Wednesday, August 3rd. Barclays upped their price target on shares of Regal Rexnord from $140.00 to $157.00 in a research note on Wednesday, August 3rd. StockNews.com upgraded shares of Regal Rexnord from a hold rating to a buy rating in a research note on Friday, July 8th. KeyCorp cut their price target on shares of Regal Rexnord from $185.00 to $155.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Finally, The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $181.00 to $150.00 and set a buy rating on the stock in a research note on Thursday, June 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $162.60.
Regal Rexnord Stock Performance
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Shares of RRX stock traded up $0.73 during trading hours on Tuesday, hitting $137.59. The company’s stock had a trading volume of 1,654 shares, compared to its average volume of 307,697. The company has a 50 day moving average of $120.87 and a 200 day moving average of $136.96. The stock has a market cap of $9.22 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.29 and a beta of 1.27. The company has a current ratio of 2.76, a quick ratio of 1.52 and a debt-to-equity ratio of 0.34. Regal Rexnord has a 12-month low of $108.28 and a 12-month high of $176.91.
Regal Rexnord (NYSE:RRX – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.15. Regal Rexnord had a net margin of 6.99% and a return on equity of 11.15%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm posted $2.28 earnings per share. The firm’s quarterly revenue was up 52.1% compared to the same quarter last year. On average, sell-side analysts forecast that Regal Rexnord will post 10.63 EPS for the current fiscal year.
Regal Rexnord Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, September 29th. Regal Rexnord’s dividend payout ratio is presently 25.00%.
Insiders Place Their Bets
In other Regal Rexnord news, insider John C. Kunze sold 1,155 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $136.88, for a total transaction of $158,096.40. Following the completion of the transaction, the insider now directly owns 6,920 shares in the company, valued at $947,209.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Regal Rexnord
A number of hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC acquired a new stake in shares of Regal Rexnord in the first quarter valued at about $5,209,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Regal Rexnord in the first quarter valued at about $74,826,000. Capital World Investors acquired a new stake in Regal Rexnord during the first quarter worth about $793,975,000. Capital International Sarl acquired a new stake in Regal Rexnord during the first quarter worth about $1,836,000. Finally, Capital Group International Inc. CA acquired a new stake in Regal Rexnord during the first quarter worth about $2,729,000. 98.16% of the stock is currently owned by institutional investors and hedge funds.
Regal Rexnord Company Profile
Regal Rexnord Corporation, together with its subsidiaries, designs, manufactures, and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. It operates through four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Motion Control Solutions.
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