Regal Beloit Corp. (NYSE:RBC) – Research analysts at KeyCorp upped their FY2016 earnings per share (EPS) estimates for Regal Beloit Corp. in a report issued on Wednesday. KeyCorp analyst J. Hammond now anticipates that the brokerage will post earnings of $4.43 per share for the year, up from their prior forecast of $4.40. KeyCorp has a “Hold” rating on the stock.
RBC has been the subject of several other reports. Zacks Investment Research raised shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. Seaport Global Securities cut shares of Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $64.00 in a report on Tuesday, September 27th. BMO Capital Markets cut shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $76.00 to $66.00 in a report on Tuesday, August 2nd. TheStreet cut shares of Regal Beloit Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $63.00 target price on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Regal Beloit Corp. has a consensus rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 59.46 on Monday. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45. The company has a 50-day moving average of $60.02 and a 200 day moving average of $60.22. The company has a market capitalization of $2.66 billion, a P/E ratio of 18.76 and a beta of 1.57.
Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings data on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The business earned $838.60 million during the quarter, compared to the consensus estimate of $857.88 million. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the business posted $1.53 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors 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 annualized dividend and a yield of 1.61%. Regal Beloit Corp.’s dividend payout ratio (DPR) is 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of the business’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 completion of the sale, 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 accessible through this link. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake 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 valued at $275,146,000 after buying an additional 3,852,394 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Regal Beloit Corp. by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 3,889,360 shares of the company’s stock valued at $245,379,000 after buying an additional 854,331 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Regal Beloit Corp. during the second quarter valued at about $32,657,000. Prudential Financial Inc. raised its stake in shares of Regal Beloit Corp. by 139.7% in the second quarter. Prudential Financial Inc. now owns 885,956 shares of the company’s stock valued at $48,771,000 after buying an additional 516,355 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $104,067,000 after buying an additional 354,976 shares during the period. Institutional investors own 95.96% of the company’s stock.
About Regal Beloit Corp.
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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