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

Regal Rexnord Co. (NYSE:RRX) declared a quarterly dividend on Monday, April 22nd, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.35 per share on Friday, July 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, June 28th.

Regal Rexnord has raised its dividend by an average of 5.3% per year over the last three years. Regal Rexnord has a payout ratio of 11.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regal Rexnord to earn $11.94 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 11.7%.

Regal Rexnord Trading Down 0.6 %

Shares of NYSE:RRX opened at $136.78 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.62 and a quick ratio of 1.56. Regal Rexnord has a 12 month low of $97.18 and a 12 month high of $183.85. The business’s 50 day simple moving average is $152.51 and its 200-day simple moving average is $154.71.

Regal Rexnord (NYSE:RRX) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.02. Regal Rexnord had a negative net margin of 0.48% and a positive return on equity of 9.42%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the company posted $2.22 EPS. The company’s revenue was up 26.4% on a year-over-year basis. Equities analysts anticipate that Regal Rexnord will post 9.82 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RRX. Barclays decreased their target price on shares of Regal Rexnord from $199.00 to $181.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. StockNews.com raised shares of Regal Rexnord from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Regal Rexnord from $205.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Oppenheimer upped their price target on shares of Regal Rexnord from $185.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Finally, KeyCorp increased their price target on shares of Regal Rexnord from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $192.00.

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.