Regal Beloit Corp. (NYSE:RBC) – Analysts at Seaport Global Securities cut their Q3 2016 EPS estimates for Regal Beloit Corp. in a research report issued on Tuesday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will earn $1.16 per share for the quarter, down from their previous forecast of $1.23. Seaport Global Securities has a “Neutral” rating and a $64.00 price objective on the stock. Seaport Global Securities also issued estimates for Regal Beloit Corp.’s Q4 2016 earnings at $1.11 EPS, FY2016 earnings at $4.35 EPS, Q4 2017 earnings at $1.19 EPS and FY2017 earnings at $4.70 EPS.
Regal Beloit Corp. (NYSE:RBC) last issued its earnings results on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. During the same period in the prior year, the business earned $1.53 EPS. The business’s revenue was down 11.0% on a year-over-year basis.
Several other brokerages have also weighed in on RBC. TheStreet upgraded shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Zacks Investment Research upgraded shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Credit Suisse Group AG reiterated a “buy” rating and set a $63.00 target price on shares of Regal Beloit Corp. in a research report on Tuesday, August 9th. BMO Capital Markets lowered shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $76.00 to $66.00 in a research report on Tuesday, August 2nd. Finally, Jefferies Group reiterated a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Regal Beloit Corp. presently has an average rating of “Hold” and a consensus target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 58.76 on Wednesday. Regal Beloit Corp. has a one year low of $47.77 and a one year high of $68.45. The company has a market cap of $2.63 billion, a PE ratio of 18.54 and a beta of 1.69. The firm has a 50-day moving average of $60.79 and a 200-day moving average of $60.24.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.63%. Regal Beloit Corp.’s payout ratio is 30.28%.
In other news, VP Terry R. Colvin sold 1,615 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $62.47, for a total transaction of $100,889.05. Following the transaction, the vice president now directly owns 21,146 shares in the company, valued at $1,320,990.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Regal Beloit Corp. by 336.2% in the second quarter. FMR LLC now owns 4,998,125 shares of the company’s stock worth $275,146,000 after buying an additional 3,852,394 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Regal Beloit Corp. by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 3,889,360 shares of the company’s stock worth $245,379,000 after buying an additional 854,331 shares during the period. Vanguard Group Inc. increased its stake in Regal Beloit Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 3,479,414 shares of the company’s stock worth $191,541,000 after buying an additional 131,773 shares during the period. Dimensional Fund Advisors LP increased its stake in Regal Beloit Corp. by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,545 shares of the company’s stock worth $104,067,000 after buying an additional 354,976 shares during the period. Finally, Franklin Resources Inc. increased its stake in Regal Beloit Corp. by 5.0% in the first quarter. Franklin Resources Inc. now owns 1,728,700 shares of the company’s stock worth $109,064,000 after buying an additional 82,500 shares during the period. Institutional investors own 95.95% 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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