Equities Analysts Set Expectations for Regal Beloit Corp.’s Q4 2016 Earnings (RBC)
Regal Beloit Corp. (NYSE:RBC) – Research analysts at Oppenheimer Holdings dropped their Q4 2016 earnings per share (EPS) estimates for Regal Beloit Corp. in a research report issued on Sunday. Oppenheimer Holdings analyst C. Glynn now forecasts that the firm will earn $1.05 per share for the quarter, down from their previous forecast of $1.09. Oppenheimer Holdings also issued estimates for Regal Beloit Corp.’s FY2017 earnings at $4.80 EPS.
Several other research firms also recently commented on RBC. KeyCorp reiterated a “hold” rating on shares of Regal Beloit Corp. in a report on Monday, October 10th. Credit Suisse Group AG reiterated a “buy” rating and issued a $63.00 price objective on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. BMO Capital Markets reiterated a “hold” rating on shares of Regal Beloit Corp. in a report on Tuesday, November 8th. 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 given 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 69.05 on Wednesday. The company’s 50-day moving average is $60.86 and its 200-day moving average is $59.52. Regal Beloit Corp. has a 52-week low of $47.77 and a 52-week high of $69.83. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 22.44 and a beta of 1.53.
Regal Beloit Corp. (NYSE:RBC) last issued its quarterly earnings data on Monday, November 7th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The company had revenue of $809.60 million for the quarter, compared to analyst estimates of $826.04 million. Regal Beloit Corp. had a net margin of 4.27% and a return on equity of 10.01%. During the same period in the prior year, the firm earned $1.43 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis.
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 given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.39%. Regal Beloit Corp.’s payout ratio is currently 31.17%.
In other news, VP John Avampato sold 626 shares of Regal Beloit Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $69.26, for a total transaction of $43,356.76. Following the transaction, the vice president now directly owns 13,097 shares of the company’s stock, valued at approximately $907,098.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Foundry Partners LLC acquired a new stake in shares of Regal Beloit Corp. during the second quarter valued at about $7,746,000. Capstone Asset Management Co. increased its stake in shares of Regal Beloit Corp. by 3.1% in the second quarter. Capstone Asset Management Co. now owns 5,996 shares of the company’s stock valued at $330,000 after buying an additional 180 shares during the period. Fisher Asset Management LLC increased its stake in shares of Regal Beloit Corp. by 3.9% in the second quarter. Fisher Asset Management LLC now owns 558,504 shares of the company’s stock valued at $32,656,000 after buying an additional 20,832 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of 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 valued at $974,000 after buying an additional 17,217 shares during the period. Finally, 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 period. 91.17% of the stock is currently owned by institutional investors.
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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