FY2016 EPS Estimates for Regal Beloit Corp. (RBC) Increased by Analyst
Regal Beloit Corp. (NYSE:RBC) – Equities researchers at KeyCorp increased their FY2016 earnings estimates for Regal Beloit Corp. in a research report issued on Wednesday. KeyCorp analyst J. Hammond now expects that the firm will earn $4.43 per share for the year, up from their previous estimate of $4.40.
A number of other equities analysts also recently issued reports on RBC. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Regal Beloit Corp. in a research report on Saturday, July 9th. Jefferies Group reissued a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. TheStreet downgraded Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Finally, BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $76.00 to $66.00 in a research 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 issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Monday. The stock has a 50 day moving average price of $60.20 and a 200-day moving average price of $60.26. The stock has a market cap of $2.73 billion, a PE ratio of 19.28 and a beta of 1.57. Regal Beloit Corp. has a 1-year low of $47.77 and a 1-year high of $68.45.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/fy2016-eps-estimates-for-regal-beloit-corp-rbc-increased-by-analyst.html
Regal Beloit Corp. (NYSE:RBC) last released its earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by $0.10. The firm earned $838.60 million during the quarter, compared to analysts’ expectations of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS.
Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in Regal Beloit Corp. by 0.7% in the second quarter. Hsbc Holdings PLC now owns 10,304 shares of the company’s stock valued at $568,000 after buying an additional 71 shares during the last quarter. State Treasurer State of Michigan raised its stake in Regal Beloit Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 17,900 shares of the company’s stock valued at $985,000 after buying an additional 100 shares during the last quarter. Utah Retirement Systems raised its stake in Regal Beloit Corp. by 1.3% in the second quarter. Utah Retirement Systems now owns 8,095 shares of the company’s stock valued at $446,000 after buying an additional 100 shares during the last quarter. Genesee Valley Trust Co. raised its stake in Regal Beloit Corp. by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 3,733 shares of the company’s stock valued at $206,000 after buying an additional 107 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Regal Beloit Corp. by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,538 shares of the company’s stock valued at $471,000 after buying an additional 113 shares during the last quarter. 95.95% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Terry R. Colvin sold 1,615 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $62.47, for a total transaction of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders 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 dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s payout ratio is currently 30.28%.
Regal Beloit Corp. Company Profile
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.
Receive News & Ratings for Regal Beloit Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit Corp. and related companies with MarketBeat.com's FREE daily email newsletter.