KeyCorp Equities Analysts Lift Earnings Estimates for Regal Beloit Corp. (RBC)
Regal Beloit Corp. (NYSE:RBC) – Analysts at KeyCorp lifted their Q3 2016 EPS estimates for Regal Beloit Corp. in a note issued to investors on Wednesday. KeyCorp analyst J. Hammond now anticipates that the brokerage will earn $1.26 per share for the quarter, up from their prior estimate of $1.23.
Other analysts also recently issued reports about the company. TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Credit Suisse Group AG restated a “buy” rating and issued a $63.00 target price on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Finally, BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced 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. The company currently has an average rating of “Hold” and a consensus target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) traded down 1.34% during trading on Friday, hitting $60.95. The stock had a trading volume of 52,230 shares. The firm has a market capitalization of $2.73 billion, a PE ratio of 19.23 and a beta of 1.57. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $68.45. The firm has a 50 day moving average price of $60.29 and a 200-day moving average price of $60.26.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by $0.10. The business had revenue of $838.60 million for the quarter, compared to analyst estimates of $857.88 million. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. Regal Beloit Corp.’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Regal Beloit Corp. by 0.8% in the first quarter. State Street Corp now owns 1,104,459 shares of the company’s stock valued at $69,681,000 after buying an additional 8,563 shares during the period. Bank of Montreal Can purchased a new stake in Regal Beloit Corp. during the second quarter valued at about $15,596,000. California Public Employees Retirement System raised its stake in Regal Beloit Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 115,900 shares of the company’s stock valued at $6,380,000 after buying an additional 4,400 shares during the period. Cutler Group LP raised its stake in Regal Beloit Corp. by 3,240.0% in the first quarter. Cutler Group LP now owns 3,340 shares of the company’s stock valued at $210,000 after buying an additional 3,240 shares during the period. Finally, BlackRock Group LTD raised its stake in Regal Beloit Corp. by 12.9% in the first quarter. BlackRock Group LTD now owns 440,927 shares of the company’s stock valued at $27,819,000 after buying an additional 50,324 shares during the period. Hedge funds and other institutional investors own 95.95% of the company’s stock.
In other news, VP Terry R. Colvin sold 1,615 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.
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 $0.24 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.55%. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
About Regal Beloit Corp.
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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