Analysts Offer Predictions for Regal Beloit Corp.’s Q1 2017 Earnings (RBC)
Regal Beloit Corp. (NYSE:RBC) – Equities research analysts at Oppenheimer Holdings issued their Q1 2017 earnings per share (EPS) estimates for Regal Beloit Corp. in a research note issued on Sunday. Oppenheimer Holdings analyst C. Glynn forecasts that the firm will post earnings of $1.02 per share for the quarter. Oppenheimer Holdings also issued estimates for Regal Beloit Corp.’s Q2 2017 earnings at $1.34 EPS, Q3 2017 earnings at $1.32 EPS and Q4 2017 earnings at $1.12 EPS.
A number of other research analysts have also issued reports on the company. BMO Capital Markets reiterated a “hold” rating on shares of Regal Beloit Corp. in a research report on Tuesday, November 8th. KeyCorp restated a “hold” rating on shares of Regal Beloit Corp. in a report on Monday, October 10th. Seaport Global Securities lowered Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and cut their price objective for the company from $68.00 to $64.00 in a report on Tuesday, September 27th. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Finally, TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.50.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 69.05 on Tuesday. The stock has a market cap of $3.09 billion, a PE ratio of 22.44 and a beta of 1.53. The firm has a 50-day moving average price of $60.86 and a 200 day moving average price of $59.52. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $69.83.
Regal Beloit Corp. (NYSE:RBC) last posted its quarterly earnings results on Monday, November 7th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. The company earned $809.60 million during 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 firm’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors 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 1.39%. The ex-dividend date is Wednesday, December 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is currently 31.17%.
In related news, VP John Avampato sold 626 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total value of $43,356.76. Following the completion of the sale, the vice president now directly owns 13,097 shares in the company, valued at $907,098.22. The sale was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of RBC. Bank of Montreal Can bought a new stake in shares of Regal Beloit Corp. during the second quarter valued at about $15,596,000. State Street Corp boosted 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 period. California Public Employees Retirement System boosted 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 period. Cutler Group LP boosted 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 period. Finally, South Texas Money Management Ltd. boosted 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 period. Institutional investors and hedge funds own 91.17% 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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