FY2016 EPS Estimates for Regal Beloit Corp. (RBC) Boosted by KeyCorp
Regal Beloit Corp. (NYSE:RBC) – Stock analysts at KeyCorp lifted their FY2016 earnings estimates for shares of Regal Beloit Corp. in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Hammond now expects that the firm will post earnings per share of $4.43 for the year, up from their prior estimate of $4.40. KeyCorp has a “Hold” rating on the stock.
Regal Beloit Corp. (NYSE:RBC) last posted its earnings results on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The firm earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. During the same period in the previous year, the company posted $1.53 EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year.
Other equities research analysts also recently issued research reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Regal Beloit Corp. in a report on Saturday, July 9th. Jefferies Group reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a report on Friday, July 1st. TheStreet raised Regal Beloit Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $76.00 to $66.00 in a report on Tuesday, August 2nd. Finally, Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $63.50.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 61.14 on Monday. The stock has a 50 day moving average of $60.13 and a 200 day moving average of $60.23. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 19.29 and a beta of 1.57. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
In related 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 value of $100,889.05. Following the completion of the transaction, the vice president now owns 21,146 shares of the company’s stock, valued at $1,320,990.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock worth $105,000 after buying an additional 1,775 shares during the period. LS Investment Advisors LLC increased its position in Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock worth $150,000 after buying an additional 1,149 shares during the period. Acrospire Investment Management LLC bought a new position in Regal Beloit Corp. during the first quarter worth approximately $196,000. American Financial Group Inc. bought a new position in Regal Beloit Corp. during the first quarter worth approximately $200,000. Finally, Cutler Group LP increased its position 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 worth $210,000 after buying an additional 3,240 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.
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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