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 earnings per share (EPS) guidance of $10.20-$10.80 for the period, compared to the consensus estimate of $10.66. The company issued revenue guidance of -.

Regal Rexnord Price Performance

NYSE RRX traded down $6.01 during mid-day trading on Friday, hitting $135.74. The stock had a trading volume of 5,100 shares, compared to its average volume of 416,651. The firm’s 50 day moving average is $137.74 and its 200 day moving average is $133.68. Regal Rexnord has a twelve month low of $108.28 and a twelve month high of $176.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 1.52. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.33 and a beta of 1.23.

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 analysts’ consensus estimates of $2.62 by $0.14. Regal Rexnord had a return on equity of 11.15% and a net margin of 6.99%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the business posted $2.28 EPS. The company’s revenue was up 52.1% compared to the same quarter last year. Equities research analysts forecast that Regal Rexnord will post 10.7 earnings per share for the current fiscal year.

Regal Rexnord Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, September 29th. Regal Rexnord’s dividend payout ratio (DPR) is 25.00%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. KeyCorp boosted their price target on Regal Rexnord from $155.00 to $172.00 and gave the stock an overweight rating in a report on Tuesday, August 23rd. StockNews.com upgraded Regal Rexnord from a hold rating to a buy rating in a research note on Friday, July 8th. Barclays raised their target price on Regal Rexnord from $140.00 to $157.00 in a research report on Wednesday, August 3rd. Robert W. Baird lifted their price target on Regal Rexnord from $146.00 to $158.00 in a research note on Wednesday, August 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Regal Rexnord from $165.00 to $187.00 and gave the stock a buy rating in a research note on Wednesday, September 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $173.40.

Insider Buying and Selling at Regal Rexnord

In other news, insider John C. Kunze sold 1,155 shares of Regal Rexnord stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Regal Rexnord

A number of hedge funds and other institutional investors have recently bought and sold shares of RRX. Vanguard Group Inc. purchased a new stake in Regal Rexnord during the 1st quarter valued at $978,777,000. Capital World Investors bought a new stake in shares of Regal Rexnord during the 1st quarter valued at about $793,975,000. State Street Corp purchased a new stake in Regal Rexnord in the 1st quarter worth approximately $266,837,000. Clearbridge Investments LLC purchased a new stake in Regal Rexnord during the 1st quarter valued at approximately $154,043,000. Finally, Wellington Management Group LLP bought a new position in shares of Regal Rexnord during the 1st quarter valued at approximately $143,144,000. Institutional investors own 97.00% of the company’s stock.

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.

Further Reading

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

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