REGAL-BELOIT CORPORATION Price Target Increased to $77.00 by Analysts at MKM Partners (RBC)
Investment analysts at MKM Partners increased their target price on shares of REGAL-BELOIT CORPORATION (NYSE:RBC) from $70.00 to $77.00 in a note issued to investors on Tuesday, ARN reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ target price suggests a potential upside of 2.80% from the company’s current price.
A number of other firms have also recently commented on RBC. 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. Separately, 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $77.46.
REGAL-BELOIT CORPORATION (NYSE:RBC) traded up 3.58% on Tuesday, hitting $77.5786. The stock had a trading volume of 156,667 shares. REGAL-BELOIT CORPORATION has a one year low of $61.86 and a one year high of $80.41. The stock’s 50-day moving average is $73.18 and its 200-day moving average is $73.46. The company has a market cap of $3.498 billion and a price-to-earnings ratio of 28.37.
REGAL-BELOIT CORPORATION (NYSE:RBC) last issued its quarterly earnings data 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. Stockholders 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 boost from REGAL-BELOIT CORPORATION’s previous quarterly dividend of $0.20.
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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