REGAL-BELOIT CORPORATION (RBC) Updates Q2 Earnings Guidance
REGAL-BELOIT CORPORATION (NYSE:RBC) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $1.24-1.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.27, AnalystRatingsNetwork.com reports.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) traded down 0.47% on Monday, hitting $74.90. 151,350 shares of the company’s stock traded hands. REGAL-BELOIT CORPORATION has a 1-year low of $61.86 and a 1-year high of $80.41. The stock’s 50-day moving average is $73.02 and its 200-day moving average is $73.36. The company has a market cap of $3.377 billion and a P/E ratio of 28.50.
REGAL-BELOIT CORPORATION (NYSE:RBC) last announced its earnings results on Monday, May 5th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.03 by $0.01. The company had revenue of $801.20 million for the quarter, compared to the consensus estimate of $794.06 million. During the same quarter last year, the company posted $1.08 earnings per share. REGAL-BELOIT CORPORATION’s revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that REGAL-BELOIT CORPORATION will post $4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 11th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Wednesday, June 25th. This is a positive change from REGAL-BELOIT CORPORATION’s previous quarterly dividend of $0.20.
A number of analysts have recently weighed in on RBC shares. Analysts at Morgan Stanley raised their price target on shares of REGAL-BELOIT CORPORATION from $78.00 to $81.00 in a research note on Monday, April 7th. On a related note, analysts at Robert W. Baird upgraded shares of REGAL-BELOIT CORPORATION from a neutral rating to an outperform rating in a research note on Wednesday, March 19th. They now have a $87.00 price target on the stock, up previously from $83.00. They noted that the move was a valuation call. Finally, analysts at RBC Capital reiterated a sector perform rating on shares of REGAL-BELOIT CORPORATION in a research note on Thursday, February 13th. They now have a $79.00 price target on the stock, down previously from $83.00. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. REGAL-BELOIT CORPORATION currently has an average rating of Hold and a consensus price target of $77.50.
Regal Beloit Corporation is a global manufacturer of electric motors and controls, electric generators and controls, and mechanical motion control products.
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