Regal Beloit Corp. (RBC) Expected to Earn FY2016 Earnings of $4.44 Per Share
Regal Beloit Corp. (NYSE:RBC) – Research analysts at Seaport Global Securities raised their FY2016 earnings estimates for shares of Regal Beloit Corp. in a note issued to investors on Tuesday. Seaport Global Securities analyst W. Liptak now anticipates that the brokerage will earn $4.44 per share for the year, up from their prior estimate of $4.35. Seaport Global Securities currently has a “Neutral” rating and a $64.00 target price on the stock. Seaport Global Securities also issued estimates for Regal Beloit Corp.’s Q4 2016 earnings at $1.03 EPS, Q2 2017 earnings at $1.22 EPS, Q3 2017 earnings at $1.37 EPS, Q4 2017 earnings at $1.14 EPS and FY2017 earnings at $4.75 EPS.
A number of other equities analysts have also weighed in on RBC. TheStreet raised Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Regal Beloit Corp. in a research note on Tuesday, August 9th. BMO Capital Markets reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a research note on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a research note on Monday, October 10th. Finally, Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 68.45 on Thursday. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $68.60. The firm has a 50-day moving average price of $59.94 and a 200-day moving average price of $59.50. The stock has a market capitalization of $3.06 billion, a PE ratio of 21.60 and a beta of 1.53.
Regal Beloit Corp. (NYSE:RBC) last announced its quarterly earnings results on Monday, November 7th. The company reported $1.31 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 business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Wednesday, December 28th. Regal Beloit Corp.’s payout ratio is 31.17%.
Several large investors have recently bought and sold shares of RBC. Bank of Montreal Can bought a new stake in Regal Beloit Corp. during the second quarter valued at about $15,596,000. State Street Corp increased its stake in shares of 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 last quarter. California Public Employees Retirement System increased its stake in shares of 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 last quarter. Cutler Group LP increased its stake in shares of 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 last quarter. Finally, South Texas Money Management Ltd. increased its stake in shares of Regal Beloit Corp. by 211.6% in the second quarter. South Texas Money Management Ltd. now owns 197,989 shares of the company’s stock valued at $10,899,000 after buying an additional 134,442 shares during the last quarter. 95.89% 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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