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

by · The Cerbat Gem

Regal Rexnord Co. (NYSE:RRX – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.35 per share on Tuesday, January 14th. This represents a $1.40 annualized dividend and a yield of 0.84%. The ex-dividend date is Tuesday, December 31st.

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 12.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of Regal Rexnord stock traded down $1.62 during trading on Friday, hitting $166.43. 343,176 shares of the company’s stock traded hands, compared to its average volume of 447,386. The company has a market cap of $11.07 billion, a PE ratio of -346.92, a PEG ratio of 1.79 and a beta of 1.04. The firm’s fifty day moving average price is $164.34 and its 200 day moving average price is $156.01. Regal Rexnord has a twelve month low of $97.18 and a twelve month high of $183.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.45 and a quick ratio of 1.38.

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 (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.15. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. Regal Rexnord had a positive return on equity of 9.16% and a negative net margin of 0.02%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.56 earnings per share. Analysts forecast that Regal Rexnord will post 9.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRX. The Goldman Sachs Group upped their target price on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. KeyCorp dropped their target price on Regal Rexnord from $210.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Barclays lifted their price objective on Regal Rexnord from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James initiated coverage on shares of Regal Rexnord in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Finally, Loop Capital reiterated a “buy” rating and set a $200.00 price target on shares of Regal Rexnord in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $193.63.

Check Out Our Latest 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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