$1.21 Billion in Sales Expected for Regal Rexnord Corp (NYSE:RRX) This Quarter

Wall Street brokerages expect that Regal Rexnord Corp (NYSE:RRX) will report $1.21 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Regal Rexnord’s earnings, with the highest sales estimate coming in at $1.22 billion and the lowest estimate coming in at $1.20 billion. Regal Rexnord reported sales of $780.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 55%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 15th.

On average, analysts expect that Regal Rexnord will report full-year sales of $3.80 billion for the current year, with estimates ranging from $3.79 billion to $3.81 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.10 billion, with estimates ranging from $5.08 billion to $5.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Regal Rexnord.

Regal Rexnord (NYSE:RRX) last posted its quarterly earnings data on Monday, November 1st. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. The business had revenue of $892.70 million during the quarter, compared to the consensus estimate of $887.51 million. Regal Rexnord had a return on equity of 12.96% and a net margin of 7.86%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share.

RRX has been the subject of a number of research reports. Barclays increased their price objective on Regal Rexnord from $200.00 to $204.00 and gave the stock an “overweight” rating in a report on Tuesday, January 4th. KeyCorp raised their price target on Regal Rexnord from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 19th. Oppenheimer raised their price target on Regal Rexnord from $175.00 to $193.00 and gave the company an “outperform” rating in a report on Wednesday, November 3rd. Finally, Zacks Investment Research upgraded Regal Rexnord from a “hold” rating to a “buy” rating and set a $191.00 price target for the company in a report on Thursday, January 6th.

RRX opened at $171.41 on Friday. The business has a fifty day moving average price of $166.48. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.34 and a current ratio of 2.39. The company has a market capitalization of $11.61 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.65 and a beta of 1.23. Regal Rexnord has a 12-month low of $122.47 and a 12-month high of $176.91.

The business also recently declared a quarterly dividend, which was paid on Friday, January 14th. Stockholders of record on Friday, December 31st were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, December 30th. This represents a $1.32 annualized dividend and a dividend yield of 0.77%. Regal Rexnord’s payout ratio is presently 20.40%.

Regal Rexnord Company Profile

Regal Rexnord Corp. engages in the manufacture of electric motors, electrical motion controls, power generation, and power transmission products. It operates through the following segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial Systems segment produces fractional to 5 horsepower AC and DC motors, electric variable speed controls, fans, and blowers for commercial applications.

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