Buckingham Research Begins Coverage on REGAL-BELOIT CORPORATION (RBC)
Analysts at Buckingham Research assumed coverage on shares of REGAL-BELOIT CORPORATION (NYSE:RBC) in a research report issued to clients and investors on Friday. The firm set a “buy” rating and a $82.00 price target on the stock. Buckingham Research’s target price points to a potential upside of 15.02% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $81.60.
Shares of REGAL-BELOIT CORPORATION (NYSE:RBC) opened at 71.37 on Friday. REGAL-BELOIT CORPORATION has a one year low of $62.93 and a one year high of $80.41. The stock has a 50-day moving average of $72.08 and a 200-day moving average of $74.38. The company has a market cap of $3.225 billion and a price-to-earnings ratio of 27.17.
REGAL-BELOIT CORPORATION (NYSE:RBC) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.27 earnings per share for the quarter, missing the analysts’ 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. 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. Stockholders 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 1.23%. The ex-dividend date 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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