Regal Beloit Corp. (RBC) Forecasted to Earn Q1 2017 Earnings of $1.01 Per Share
Regal Beloit Corp. (NYSE:RBC) – Equities research analysts at Seaport Global Securities dropped their Q1 2017 earnings estimates for Regal Beloit Corp. in a report issued on Tuesday. Seaport Global Securities analyst W. Liptak now anticipates that the brokerage will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.03. Seaport Global Securities has a “Neutral” rating and a $64.00 price objective on the stock.
Other research analysts also recently issued reports about the company. TheStreet raised Regal Beloit Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $63.00 price objective on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a report on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a report on Monday, October 10th. Finally, Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 64.50 on Wednesday. The company has a 50 day moving average price of $59.45 and a 200-day moving average price of $59.43. Regal Beloit Corp. has a one year low of $47.77 and a one year high of $68.45. The firm has a market capitalization of $2.89 billion, a PE ratio of 20.35 and a beta of 1.53.
Regal Beloit Corp. (NYSE:RBC) last issued its earnings results on Monday, November 7th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. The business had revenue of $809.60 million for the quarter, compared to analysts’ expectations of $826.04 million. Regal Beloit Corp. had a return on equity of 10.01% and a net margin of 4.27%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, December 28th. Regal Beloit Corp.’s dividend payout ratio is currently 31.17%.
Several hedge funds have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its stake in Regal Beloit Corp. by 3.1% in the second quarter. Capstone Asset Management Co. now owns 5,996 shares of the company’s stock worth $330,000 after buying an additional 180 shares in the last quarter. Fisher Asset Management LLC boosted its position in Regal Beloit Corp. by 3.9% in the second quarter. Fisher Asset Management LLC now owns 558,504 shares of the company’s stock worth $32,656,000 after buying an additional 20,832 shares during the period. BNP Paribas Arbitrage SA boosted its position in Regal Beloit Corp. by 3,572.0% in the second quarter. BNP Paribas Arbitrage SA now owns 17,699 shares of the company’s stock worth $974,000 after buying an additional 17,217 shares during the period. Cutler Group LP boosted 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. Finally, Squarepoint Ops LLC purchased a new position in Regal Beloit Corp. during the first quarter worth about $752,000. Institutional investors and hedge funds own 95.89% 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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