REGAL-BELOIT CORPORATION’s Neutral Rating Reaffirmed at Zacks (RBC)
REGAL-BELOIT CORPORATION (NYSE:RBC)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Monday. They currently have a $74.00 target price on the stock. Zacks‘s price target suggests a potential upside of 5.64% from the company’s current price.
Zacks’ analyst wrote, “Regal Beloit reported healthy second-quarter 2014 results, with adjusted earnings in line with the Zacks Consensus Estimate. Both revenues and net income showed healthy year-over-year increase, on the back of strong demand and cost efficiencies. The company’s recent acquisition, Benshaw, will expand its portfolio of custom electronic drives and controls. The company is striving to further strengthen its competitive position through organic growth across the industry verticals and increased market penetration buoyed by accretive acquisitions. However, operating risks regarding high R&D costs for technology-driven products, exchange rate volatility and concentration risks could weigh on the margins moving forward. Nevertheless, we maintain our Neutral recommendation on the stock. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of REGAL-BELOIT CORPORATION in a research note on Thursday. They now have a $84.00 price target on the stock, down previously from $85.00. Separately, 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. 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $81.56.
REGAL-BELOIT CORPORATION (NYSE:RBC) traded down 0.13% during mid-day trading on Monday, hitting $69.96. The stock had a trading volume of 121,689 shares. 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 $77.01 and its 200-day moving average is $75.11. The company has a market cap of $3.162 billion and a P/E ratio of 26.70.
REGAL-BELOIT CORPORATION (NYSE:RBC) last announced its earnings results on Tuesday, July 29th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by $0.01. The company had revenue of $850.40 million for the quarter, compared to the consensus estimate of $866.06 million. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that REGAL-BELOIT CORPORATION will post $4.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 8th. Shareholders of record on Wednesday, September 24th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Monday, September 22nd.
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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