Regal Beloit Corp. (NYSE:RBC) – Equities researchers at KeyCorp boosted their Q3 2016 earnings estimates for shares of Regal Beloit Corp. in a research report issued on Wednesday. KeyCorp analyst J. Hammond now forecasts that the firm will earn $1.26 per share for the quarter, up from their prior estimate of $1.23.
Several other brokerages also recently weighed in on RBC. TheStreet raised shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Credit Suisse Group AG restated a “buy” rating and issued a $63.00 price target on shares of Regal Beloit Corp. in a report on Tuesday, August 9th. BMO Capital Markets cut Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $76.00 to $66.00 in a report on Tuesday, August 2nd. Finally, Seaport Global Securities cut Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $64.00 in a report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $63.50.
Shares of Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Friday. Regal Beloit Corp. has a one year low of $47.77 and a one year high of $68.45. The firm has a market cap of $2.73 billion, a PE ratio of 19.28 and a beta of 1.57. The company has a 50-day moving average of $60.20 and a 200 day moving average of $60.26.
Regal Beloit Corp. (NYSE:RBC) last issued its earnings results on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The firm earned $838.60 million during the quarter, compared to analyst estimates of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS.
A number of institutional investors have recently added to or reduced their stakes in RBC. Tower Research Capital LLC TRC boosted its position in Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock worth $105,000 after buying an additional 1,775 shares in the last quarter. LS Investment Advisors LLC boosted its position in Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock worth $150,000 after buying an additional 1,149 shares in the last quarter. Acrospire Investment Management LLC boosted its position in Regal Beloit Corp. by 9.7% in the second quarter. Acrospire Investment Management LLC now owns 3,400 shares of the company’s stock worth $187,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. bought a new position in Regal Beloit Corp. during the second quarter worth $188,000. Finally, American Financial Group Inc. bought a new position in Regal Beloit Corp. during the first quarter worth $200,000. Hedge funds and other institutional investors own 95.95% of the company’s stock.
In other Regal Beloit Corp. news, VP Terry R. Colvin sold 1,615 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $62.47, for a total value of $100,889.05. Following the completion of the transaction, the vice president now owns 21,146 shares in the company, valued at approximately $1,320,990.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio is presently 30.28%.
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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