Regal Beloit Corp. (NYSE:RBC) – Investment analysts at Seaport Global Securities raised their Q2 2017 earnings per share estimates for shares of Regal Beloit Corp. in a research note issued on Tuesday. Seaport Global Securities analyst W. Liptak now anticipates that the firm will post earnings of $1.24 per share for the quarter, up from their prior estimate of $1.23. 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 Q3 2017 earnings at $1.24 EPS.
Regal Beloit Corp. (NYSE:RBC) last posted its earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The firm earned $838.60 million during the quarter, compared to analyst estimates of $857.88 million. During the same period in the previous year, the company posted $1.53 EPS. Regal Beloit Corp.’s revenue for the quarter was down 11.0% compared to the same quarter last year.
Several other analysts also recently commented on RBC. TheStreet downgraded Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 20th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a research note on Friday, July 1st. Credit Suisse Group AG reiterated a “buy” rating on shares of Regal Beloit Corp. in a research note on Saturday, July 9th. BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their price target for the company from $76.00 to $66.00 in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Regal Beloit Corp. presently has a consensus rating of “Hold” and a consensus price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) traded up 0.93% during trading on Thursday, hitting $59.49. The stock had a trading volume of 243,531 shares. The firm has a market capitalization of $2.66 billion, a PE ratio of 18.77 and a beta of 1.69. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $68.45. The firm has a 50 day moving average price of $60.62 and a 200-day moving average price of $60.24.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.61%. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of Regal Beloit Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the sale, the vice president now owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in Regal Beloit Corp. during the second quarter worth approximately $243,000. Mason Street Advisors LLC bought a new stake in Regal Beloit Corp. during the second quarter worth approximately $1,123,000. Royal Bank of Canada boosted its stake in Regal Beloit Corp. by 12.7% in the second quarter. Royal Bank of Canada now owns 472,864 shares of the company’s stock worth $26,033,000 after buying an additional 53,260 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Regal Beloit Corp. by 174.0% in the second quarter. Public Employees Retirement System of Ohio now owns 42,935 shares of the company’s stock worth $2,364,000 after buying an additional 27,268 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Regal Beloit Corp. by 49.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 292,156 shares of the company’s stock worth $16,084,000 after buying an additional 96,370 shares during the period. 95.95% 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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