REGAL-BELOIT CORPORATION Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:RBC)
REGAL-BELOIT CORPORATION (NYSE:RBC) has earned an average recommendation of “Buy” from the ten analysts that are currently covering the company, Stock Ratings Network reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $81.56.
In other REGAL-BELOIT CORPORATION news, Director Jane L. Warner acquired 1,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $69.11 per share, with a total value of $69,110.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on RBC. Analysts at Longbow Research downgraded shares of REGAL-BELOIT CORPORATION from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 20th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of REGAL-BELOIT CORPORATION in a research note on Monday, August 4th. They now have a $74.00 price target on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of REGAL-BELOIT CORPORATION in a research note on Thursday, July 31st. They now have a $84.00 price target on the stock, down previously from $85.00.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) opened at 70.87 on Thursday. REGAL-BELOIT CORPORATION has a 52 week low of $62.93 and a 52 week high of $80.41. The stock has a 50-day moving average of $73.49 and a 200-day moving average of $74.43. The company has a market cap of $3.202 billion and a price-to-earnings ratio of 26.93.
REGAL-BELOIT CORPORATION (NYSE:RBC) last released its earnings data on Tuesday, July 29th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that REGAL-BELOIT CORPORATION will post $4.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 8th. Shareholders of record on Wednesday, September 24th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.24%. 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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