Regal Rexnord (NYSE:RRX – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15, Briefing.com reports. Regal Rexnord had a positive return on equity of 9.42% and a negative net margin of 0.48%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company earned $2.56 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. Regal Rexnord updated its FY24 guidance to $9.40-9.80 EPS and its FY 2024 guidance to 9.400-9.800 EPS.
Regal Rexnord Price Performance
Shares of RRX stock traded up $2.32 during mid-day trading on Thursday, reaching $163.00. The stock had a trading volume of 941,354 shares, compared to its average volume of 457,265. Regal Rexnord has a 12-month low of $97.18 and a 12-month high of $183.85. The company has a market cap of $10.84 billion, a P/E ratio of -334.75, a price-to-earnings-growth ratio of 1.63 and a beta of 1.06. The business has a 50-day simple moving average of $144.10 and a 200 day simple moving average of $154.99. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.99.
Regal Rexnord Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 27th. Regal Rexnord’s dividend payout ratio is currently -291.67%.
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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.
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