Seaport Res Ptn intervenes on the revenues of Regal Rexnord Co. of Q3 2024 (NYSE:RRX)

Regal Rexnord Co. (NYSE:RRX – Free Report) – Investment analysts at Seaport Res Ptn increased their Q3 2024 earnings per share (EPS) estimates for Regal Rexnord in a research report issued to clients and investors on Thursday, August 8th. . Seaport Res Ptn analyst W. Liptak now anticipates that the company will earn $2.46 per share for the quarter, up from their prior estimate of $2.40. The consensus estimate for Regal Rexnord’s current full-year earnings is $9.48 per share.

Regal Rexnord (NYSE:RRX – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.15. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. Regal Rexnord’s revenue for the quarter was down 12.5% ​​year over year. In the same quarter last year, the company posted earnings of $2.56 per share.

Other equities analysts have recently issued research reports on the company. Barclays cut their price target on Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com upgraded Regal Rexnord from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. KeyCorp cut their price target on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Goldman Sachs Group boosted their price target on Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird upped their target price on Regal Rexnord from $208.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. . One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $189.83, according to data from MarketBeat.

Check out our latest research report on RRX

Regal Rexnord stock performance

Shares of RRX opened at $153.44 on Monday. The company has a market cap of $10.21 billion, a P/E ratio of -319.67, a P/E/G ratio of 1.58 and a beta of 1.06. The company’s 50-day moving average is $144.77, and its two-hundred-day moving average is $155.86. The company has a current ratio of 2.45, a quick ratio of 1.38, and a debt-to-equity ratio of 0.91. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85.

Regal Rexnord Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 27. This represents an annualized dividend of $1.40 and a dividend yield of 0.91%. Regal Rexnord’s dividend payout ratio is currently -291.67%.

Institutional investors are weighing in on Regal Rexnord

Several hedge funds and other institutional investors have recently made changes to their positions in RRX. Rise Advisors LLC purchased a new stake in shares of Regal Rexnord in the first quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new stake in Regal Rexnord in the second quarter valued at $46,000. 1620 Investment Advisors Inc. purchased a new stake in Regal Rexnord in the second quarter valued at $52,000. GAMMA Investing LLC purchased a new stake in Regal Rexnord in the fourth quarter valued at $58,000. Finally, EntryPoint Capital LLC purchased a new stake in Regal Rexnord in the 1st quarter valued at $68,000. Institutional investors and hedge funds own 99.72% of the company’s shares.

About Regal Rexnord

(Get a free report)

Regal Rexnord Corporation manufactures and sells industrial propulsion solutions, power transmission components, electric motors and electronic controls, air transportation products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, transmissions and mechanical power transmission components, gearboxes, gear motors, clutches, brakes, special and industrial powertrain components and solutions for food and beverage, material handling in bulk, e-commerce/warehouse distribution, energy, mining, marine, agricultural machinery, lawn and garden and general industrial markets.

Featured stories

Get news and reviews for Regal Rexnord Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Regal Rexnord and related companies with MarketBeat.com ‘s FREE daily email newsletter.