REGAL-BELOIT CORPORATION Declares Quarterly Dividend of $0.22 (RBC)
REGAL-BELOIT CORPORATION (NYSE:RBC) announced a quarterly dividend on Friday, July 25th, American Banking News reports. Shareholders of record on Wednesday, September 24th will be paid a dividend of 0.22 per share on Wednesday, October 8th. This represents a $0.88 annualized dividend and a dividend yield of 1.15%.
Several analysts have recently commented on the stock. Analysts at KeyCorp reiterated a “buy” rating on shares of REGAL-BELOIT CORPORATION in a research note on Friday, June 20th. They now have a $88.00 price target on the stock, up previously from $82.00. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of REGAL-BELOIT CORPORATION in a research note on Tuesday, June 17th. They now have a $82.00 price target on the stock. Finally, analysts at MKM Partners raised their price target on shares of REGAL-BELOIT CORPORATION from $70.00 to $77.00 in a research note on Tuesday, May 6th. They now have a “neutral” rating on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. REGAL-BELOIT CORPORATION has an average rating of “Buy” and an average price target of $80.00.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) traded down 0.57% during mid-day trading on Friday, hitting $76.41. 165,764 shares of the company’s stock traded hands. REGAL-BELOIT CORPORATION has a one year low of $62.93 and a one year high of $80.41. The stock’s 50-day moving average is $77.90 and its 200-day moving average is $75.19. The company has a market cap of $3.448 billion and a price-to-earnings ratio of 30.61.
REGAL-BELOIT CORPORATION (NYSE:RBC) last issued its quarterly earnings data on Monday, May 5th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that REGAL-BELOIT CORPORATION will post $4.59 EPS for the current fiscal year.
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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