KeyCorp Equities Analysts Lift Earnings Estimates for Regal Beloit Corp. (RBC)
Regal Beloit Corp. (NYSE:RBC) – Research analysts at KeyCorp lifted their Q3 2016 earnings estimates for shares of Regal Beloit Corp. in a research note issued to investors on Wednesday. KeyCorp analyst J. Hammond now expects that the firm will post earnings per share of $1.26 for the quarter, up from their prior forecast of $1.23.
Several other equities research analysts also recently commented on RBC. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Regal Beloit Corp. in a report on Saturday, July 9th. Jefferies Group reaffirmed a “hold” rating on shares of Regal Beloit Corp. in a report on Friday, July 1st. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. TheStreet downgraded Regal Beloit Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $76.00 to $66.00 in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) traded down 1.34% during trading on Friday, reaching $60.95. The company had a trading volume of 52,330 shares. Regal Beloit Corp. has a 12 month low of $47.77 and a 12 month high of $68.45. The company has a market capitalization of $2.73 billion, a P/E ratio of 19.23 and a beta of 1.57. The stock has a 50 day moving average of $60.29 and a 200-day moving average of $60.26.
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Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.24 by $0.10. The company had revenue of $838.60 million for the quarter, compared to analyst estimates of $857.88 million. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business’s revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share.
Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Regal Beloit Corp. by 336.2% in the second quarter. FMR LLC now owns 4,998,125 shares of the company’s stock valued at $275,146,000 after buying an additional 3,852,394 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Regal Beloit Corp. by 28.1% in the first quarter. JPMorgan Chase & Co. now owns 3,889,360 shares of the company’s stock valued at $245,379,000 after buying an additional 854,331 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Regal Beloit Corp. during the second quarter valued at $32,657,000. Prudential Financial Inc. boosted its stake in Regal Beloit Corp. by 139.7% in the second quarter. Prudential Financial Inc. now owns 885,956 shares of the company’s stock valued at $48,771,000 after buying an additional 516,355 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Regal Beloit Corp. by 23.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,545 shares of the company’s stock valued at $104,067,000 after buying an additional 354,976 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
In other Regal Beloit Corp. news, VP Terry R. Colvin sold 1,615 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $62.47, for a total transaction of $100,889.05. Following the completion of the sale, the vice president now directly owns 21,146 shares in the company, valued at $1,320,990.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.55%. The ex-dividend date is Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is presently 30.28%.
About Regal Beloit Corp.
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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