Regal Rexnord (RRX) to Release Quarterly Earnings on Wednesday

Regal Rexnord (NYSE:RRXGet Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, February 1st. Analysts expect the company to announce earnings of $2.30 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Regal Rexnord (NYSE:RRXGet Rating) last posted its quarterly earnings data on Monday, October 31st. The company reported $2.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.66. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Regal Rexnord had a return on equity of 10.91% and a net margin of 7.37%. On average, analysts expect Regal Rexnord to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Regal Rexnord Price Performance

RRX opened at $134.43 on Wednesday. The stock has a fifty day simple moving average of $125.74 and a two-hundred day simple moving average of $133.08. The company has a current ratio of 2.89, a quick ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.08. Regal Rexnord has a 12-month low of $108.28 and a 12-month high of $166.40.

Regal Rexnord Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were issued a $0.35 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. Regal Rexnord’s dividend payout ratio (DPR) is 24.56%.

Institutional Investors Weigh In On Regal Rexnord

A number of institutional investors have recently modified their holdings of RRX. US Bancorp DE purchased a new stake in shares of Regal Rexnord in the first quarter worth $702,000. Citigroup Inc. purchased a new stake in shares of Regal Rexnord during the first quarter valued at $3,124,000. AlphaCrest Capital Management LLC purchased a new stake in shares of Regal Rexnord during the first quarter valued at $347,000. Great West Life Assurance Co. Can purchased a new stake in shares of Regal Rexnord during the first quarter valued at $5,758,000. Finally, Synovus Financial Corp purchased a new stake in shares of Regal Rexnord during the first quarter valued at $1,608,000. 99.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RRX shares. StockNews.com started coverage on Regal Rexnord in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Oppenheimer cut their target price on Regal Rexnord to $180.00 in a research note on Wednesday, December 14th. Wolfe Research cut Regal Rexnord from an “outperform” rating to a “peer perform” rating in a research note on Thursday, December 1st. Finally, Robert W. Baird cut their target price on Regal Rexnord from $174.00 to $167.00 in a research note on Wednesday, November 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $172.60.

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 for Regal Rexnord (NYSE:RRX)

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