Regal Rexnord Co. (NYSE:RRX) to Issue Quarterly Dividend of $0.35

by · The Markets Daily

Regal Rexnord Co. (NYSE:RRX – Get Free Report) announced a quarterly dividend on Monday, July 22nd, Zacks reports. Investors of record on Friday, September 27th will be given a dividend of 0.35 per share on Friday, October 11th. This represents a $1.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, September 27th.

Regal Rexnord has raised its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Regal Rexnord has a payout ratio of 12.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Regal Rexnord to earn $11.38 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 12.3%.

Regal Rexnord Stock Down 2.2 %

Shares of NYSE:RRX opened at $164.74 on Thursday. Regal Rexnord has a 1-year low of $97.18 and a 1-year high of $183.85. The company’s fifty day moving average is $157.27 and its two-hundred day moving average is $156.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.38 and a current ratio of 2.45. The stock has a market capitalization of $10.96 billion, a price-to-earnings ratio of -343.21, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

Regal Rexnord (NYSE:RRX – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.15. Regal Rexnord had a negative net margin of 0.02% and a positive return on equity of 9.16%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the business earned $2.56 earnings per share. Regal Rexnord’s quarterly revenue was down 12.5% on a year-over-year basis. Equities analysts anticipate that Regal Rexnord will post 9.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Loop Capital restated a “buy” rating and set a $200.00 price objective on shares of Regal Rexnord in a research note on Thursday, September 19th. Robert W. Baird upped their price target on shares of Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp cut their price objective on shares of Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com lowered shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group raised their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.29.

Read Our Latest Stock Report on RRX

Regal Rexnord Company Profile

(Get Free Report)

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.

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