Regal Rexnord (NYSE:RRX) Issues FY 2022 Earnings Guidance

Regal Rexnord (NYSE:RRXGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $10.20-$10.80 for the period, compared to the consensus EPS estimate of $10.49. The company issued revenue guidance of -.

Regal Rexnord Price Performance

Shares of Regal Rexnord stock traded down $0.09 during trading on Friday, hitting $136.67. The stock had a trading volume of 210,051 shares, compared to its average volume of 440,968. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.27 and a beta of 1.27. Regal Rexnord has a 12 month low of $108.28 and a 12 month high of $176.91. The business’s 50-day moving average is $120.64 and its 200 day moving average is $137.54. The company has a current ratio of 2.76, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34.

Regal Rexnord (NYSE:RRXGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.15. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Regal Rexnord had a net margin of 6.99% and a return on equity of 11.15%. The business’s quarterly revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 earnings per share. As a group, sell-side analysts anticipate that Regal Rexnord will post 10.63 earnings per share for the current year.

Regal Rexnord Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.35 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. Regal Rexnord’s dividend payout ratio is presently 25.00%.

Analyst Ratings Changes

RRX has been the topic of a number of research analyst reports. KeyCorp reduced their target price on Regal Rexnord from $185.00 to $155.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Barclays increased their target price on Regal Rexnord from $140.00 to $157.00 in a research note on Wednesday. Robert W. Baird upped their price target on shares of Regal Rexnord from $146.00 to $158.00 in a research report on Wednesday. The Goldman Sachs Group cut their price target on shares of Regal Rexnord from $181.00 to $150.00 and set a buy rating for the company in a research report on Thursday, June 23rd. Finally, StockNews.com upgraded shares of Regal Rexnord from a hold rating to a buy rating in a research report on Friday, July 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $162.60.

Institutional Trading of Regal Rexnord

A number of institutional investors have recently modified their holdings of RRX. Point72 Hong Kong Ltd bought a new position in Regal Rexnord in the first quarter worth about $42,000. Zions Bancorporation N.A. bought a new position in Regal Rexnord in the first quarter worth about $84,000. Covestor Ltd bought a new position in Regal Rexnord in the first quarter worth about $106,000. Advisors Asset Management Inc. bought a new position in Regal Rexnord in the first quarter worth about $185,000. Finally, Laurel Wealth Advisors Inc. bought a new position in Regal Rexnord in the first quarter worth about $290,000. 98.16% of the stock is currently owned by hedge funds and other institutional investors.

About Regal Rexnord

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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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Earnings History and Estimates for Regal Rexnord (NYSE:RRX)

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