Regal Rexnord Co. (NYSE:RRX) Declares $0.35 Quarterly Dividend

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Monday, July 22nd, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.35 per share on Friday, October 11th. This represents a $1.40 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, September 27th.

Regal Rexnord has increased its dividend payment by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 19 years. Regal Rexnord has a payout ratio of 12.1% 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 Performance

NYSE RRX opened at $168.48 on Wednesday. The firm has a market cap of $11.21 billion, a P/E ratio of -351.00, a P/E/G ratio of 1.77 and a beta of 1.04. Regal Rexnord has a 52-week low of $97.18 and a 52-week high of $183.85. The business’s 50-day moving average price is $157.01 and its 200 day moving average price is $156.80. The company has a quick ratio of 1.38, a current ratio of 2.45 and a debt-to-equity ratio of 0.91.

Regal Rexnord (NYSE:RRX) last announced its earnings results on Wednesday, July 31st. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was down 12.5% on a year-over-year basis. During the same period last year, the business posted $2.56 EPS. On average, equities research analysts expect that Regal Rexnord will post 9.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James initiated coverage on shares of Regal Rexnord in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. The Goldman Sachs Group boosted their price target on shares of Regal Rexnord from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Regal Rexnord from $181.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on Regal Rexnord from $208.00 to $213.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 price target on shares of Regal Rexnord in a report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.29.

Regal Rexnord Company Profile

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.