Q2 2017 EPS Estimates for Regal Beloit Corp. (RBC) Raised by Analyst
Regal Beloit Corp. (NYSE:RBC) – Stock analysts at Seaport Global Securities upped their Q2 2017 earnings per share (EPS) estimates for Regal Beloit Corp. in a research report issued on Tuesday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will earn $1.24 per share for the quarter, up from their previous forecast of $1.23. Seaport Global Securities has a “Neutral” rating and a $64.00 price objective on the stock. Seaport Global Securities also issued estimates for Regal Beloit Corp.’s Q3 2017 earnings at $1.24 EPS.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings data on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The business earned $838.60 million during the quarter, compared to analysts’ expectations of $857.88 million. During the same period in the previous year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year.
Several other research firms also recently issued reports on RBC. Credit Suisse Group AG reaffirmed a “buy” rating and set a $63.00 price target on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th. Zacks Investment Research raised shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. TheStreet raised shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Jefferies Group reissued a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Finally, BMO Capital Markets downgraded shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $76.00 to $66.00 in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Regal Beloit Corp. currently has an average rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) traded up 0.93% on Thursday, hitting $59.49. 243,531 shares of the stock traded hands. The firm’s 50-day moving average price is $60.62 and its 200-day moving average price is $60.24. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 18.77 and a beta of 1.69.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is currently 30.28%.
In other news, VP Terry R. Colvin sold 1,615 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the completion of the sale, the vice president now owns 21,146 shares in the company, valued at approximately $1,320,990.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. purchased a new stake in shares of Regal Beloit Corp. during the second quarter worth about $243,000. Mason Street Advisors LLC purchased a new stake in shares of Regal Beloit Corp. during the second quarter worth about $1,123,000. Royal Bank of Canada boosted its stake in shares of Regal Beloit Corp. by 12.7% in the second quarter. Royal Bank of Canada now owns 472,864 shares of the company’s stock worth $26,033,000 after buying an additional 53,260 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Regal Beloit Corp. by 174.0% in the second quarter. Public Employees Retirement System of Ohio now owns 42,935 shares of the company’s stock worth $2,364,000 after buying an additional 27,268 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Regal Beloit Corp. by 49.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 292,156 shares of the company’s stock worth $16,084,000 after buying an additional 96,370 shares during the last quarter. Institutional investors and hedge funds own 95.95% of the company’s stock.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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