Research Analysts Issue Forecasts for Regal Rexnord Co.’s FY2023 Earnings (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRXGet Rating) – Equities research analysts at KeyCorp dropped their FY2023 earnings per share (EPS) estimates for Regal Rexnord in a research note issued on Monday, August 1st. KeyCorp analyst J. Hammond now anticipates that the company will post earnings of $11.45 per share for the year, down from their prior estimate of $11.80. KeyCorp currently has a “Overweight” rating and a $155.00 target price on the stock. The consensus estimate for Regal Rexnord’s current full-year earnings is $10.63 per share.

Several other brokerages have also recently issued reports on RRX. Robert W. Baird boosted their price target on Regal Rexnord from $146.00 to $158.00 in a research report on Wednesday. Barclays lifted their price objective on Regal Rexnord from $140.00 to $157.00 in a report on Wednesday. StockNews.com raised Regal Rexnord from a “hold” rating to a “buy” rating in a report on Friday, July 8th. Finally, The Goldman Sachs Group lowered their price objective on Regal Rexnord from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $162.60.

Regal Rexnord Stock Performance

Shares of RRX stock opened at $136.67 on Thursday. The stock has a market capitalization of $9.16 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. Regal Rexnord has a 52-week low of $108.28 and a 52-week high of $176.91. The stock’s 50-day moving average price is $120.64 and its 200 day moving average price is $137.54. The company has a quick ratio of 1.55, a current ratio of 2.76 and a debt-to-equity ratio of 0.34.

Regal Rexnord (NYSE:RRXGet Rating) last issued its quarterly earnings results on Monday, August 1st. The company reported $2.76 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.15% and a net margin of 6.99%. The firm’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 EPS.

Institutional Investors Weigh In On Regal Rexnord

Several institutional investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in Regal Rexnord in the 1st quarter valued at approximately $25,000. Bank of New Hampshire purchased a new stake in Regal Rexnord in the 1st quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd purchased a new stake in Regal Rexnord in the 1st quarter valued at approximately $30,000. Huntington National Bank purchased a new stake in Regal Rexnord in the 1st quarter valued at approximately $32,000. Finally, CWM LLC lifted its stake in Regal Rexnord by 63.0% in the 2nd quarter. CWM LLC now owns 225 shares of the company’s stock valued at $26,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 98.16% of the company’s stock.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, September 29th. Regal Rexnord’s dividend payout ratio (DPR) is 25.00%.

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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