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

Regal Rexnord Co. (NYSE:RRX) – Investment analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for shares of Regal Rexnord in a report issued on Wednesday, May 8th. Seaport Res Ptn analyst W. Liptak now forecasts that the company will post earnings per share of $2.10 for the quarter, down from their previous estimate of $2.58. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.88 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.

RRX has been the topic of several other research reports. Barclays lowered their price objective on shares of Regal Rexnord from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday. Robert W. Baird upped their price objective on Regal Rexnord from $205.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer increased their price objective on Regal Rexnord from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, KeyCorp boosted 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $195.60.

Regal Rexnord Price Performance

Shares of NYSE:RRX opened at $161.19 on Friday. The company has a market capitalization of $10.72 billion, a P/E ratio of -335.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The company’s 50-day moving average is $169.03 and its 200 day moving average is $147.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.59 and a current ratio of 2.62. Regal Rexnord has a fifty-two week low of $97.18 and a fifty-two week high of $183.85.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. Regal Rexnord’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company posted $2.22 earnings per share.

Regal Rexnord Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 0.87%. Regal Rexnord’s payout ratio is -291.67%.

Insiders Place Their Bets

In other news, EVP Thomas E. Valentyn sold 647 shares of Regal Rexnord stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at $4,821,516.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Regal Rexnord news, EVP Jerrald R. Morton sold 2,992 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas E. Valentyn sold 647 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 28,412 shares in the company, valued at approximately $4,821,516.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,570 shares of company stock worth $892,301 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On Regal Rexnord

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Regal Rexnord by 80.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 509,265 shares of the company’s stock worth $75,382,000 after purchasing an additional 226,435 shares in the last quarter. Channing Capital Management LLC increased its holdings in shares of Regal Rexnord by 7.7% in the 4th quarter. Channing Capital Management LLC now owns 84,383 shares of the company’s stock worth $12,490,000 after buying an additional 6,051 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Regal Rexnord by 56.8% in the 4th quarter. WCM Investment Management LLC now owns 144,139 shares of the company’s stock worth $21,549,000 after buying an additional 52,214 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of Regal Rexnord by 5.2% during the 4th quarter. Retirement Systems of Alabama now owns 159,126 shares of the company’s stock worth $23,554,000 after acquiring an additional 7,935 shares during the last quarter. Finally, Merit Financial Group LLC bought a new stake in shares of Regal Rexnord during the 4th quarter worth $230,000. Institutional investors own 99.72% of the company’s stock.

About Regal Rexnord

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.