KeyCorp Reaffirms “Hold” Rating for Regal Beloit Corp. (RBC)
Regal Beloit Corp. (NYSE:RBC)‘s stock had its “hold” rating restated by equities researchers at KeyCorp in a note issued to investors on Monday.
Other analysts also recently issued research reports about the company. Credit Suisse Group AG reiterated a “buy” rating on shares of Regal Beloit Corp. in a research report on Saturday, July 9th. Jefferies Group reiterated a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. TheStreet upgraded Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. BMO Capital Markets downgraded Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $76.00 to $66.00 in a research report on Tuesday, August 2nd. Finally, Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $63.50.
Shares of Regal Beloit Corp. (NYSE:RBC) traded up 0.05% during mid-day trading on Monday, reaching $61.14. The company had a trading volume of 129,848 shares. The stock has a 50 day moving average price of $60.13 and a 200 day moving average price of $60.23. The firm has a market capitalization of $2.74 billion, a PE ratio of 19.29 and a beta of 1.57. Regal Beloit Corp. has a 12-month low of $47.77 and a 12-month high of $68.45.
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Regal Beloit Corp. (NYSE:RBC) last issued its quarterly earnings results on Monday, August 8th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by $0.10. The business had revenue of $838.60 million for the quarter, compared to the consensus estimate of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. The business’s revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.53 EPS. On average, equities analysts forecast that Regal Beloit Corp. will post $4.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. Regal Beloit Corp.’s dividend payout ratio is currently 30.28%.
In other news, VP Terry R. Colvin sold 1,615 shares of Regal Beloit Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $62.47, for a total value of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares in the company, valued at approximately $1,320,990.62. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. State Street Corp raised its stake in shares of Regal Beloit Corp. by 0.8% in the first quarter. State Street Corp now owns 1,104,459 shares of the company’s stock worth $69,681,000 after buying an additional 8,563 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Regal Beloit Corp. during the second quarter worth $15,596,000. California Public Employees Retirement System raised its stake in shares of Regal Beloit Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 115,900 shares of the company’s stock worth $6,380,000 after buying an additional 4,400 shares in the last quarter. Cutler Group LP raised its stake in shares of Regal Beloit Corp. by 3,240.0% in the first quarter. Cutler Group LP now owns 3,340 shares of the company’s stock worth $210,000 after buying an additional 3,240 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Regal Beloit Corp. by 12.9% in the first quarter. BlackRock Group LTD now owns 440,927 shares of the company’s stock worth $27,819,000 after buying an additional 50,324 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.
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.
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