Regal Beloit Corp. (RBC) Stock Rating Reaffirmed by KeyCorp
Regal Beloit Corp. (NYSE:RBC)‘s stock had its “hold” rating restated by investment analysts at KeyCorp in a research note issued to investors on Monday.
A number of other research analysts have also weighed in on RBC. Credit Suisse Group AG restated a “buy” rating on shares of Regal Beloit Corp. in a report on Saturday, July 9th. Jefferies Group restated a “hold” rating on shares of Regal Beloit Corp. in a report on Friday, July 1st. Zacks Investment Research upgraded Regal Beloit Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 19th. TheStreet lowered Regal Beloit Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, BMO Capital Markets lowered Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and reduced their price target for the stock 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, ten have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Monday. The company has a market capitalization of $2.73 billion, a PE ratio of 19.28 and a beta of 1.57. The stock has a 50 day moving average of $60.20 and a 200-day moving average of $60.26. 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 announced its quarterly earnings data on Monday, August 8th. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 EPS. Equities analysts expect that Regal Beloit Corp. will post $4.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 annualized dividend and a yield of 1.57%. Regal Beloit Corp.’s dividend payout ratio (DPR) is currently 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were 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 legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in Regal Beloit Corp. by 1,443.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,898 shares of the company’s stock valued at $105,000 after buying an additional 1,775 shares in the last quarter. LS Investment Advisors LLC increased its position in Regal Beloit Corp. by 72.7% in the second quarter. LS Investment Advisors LLC now owns 2,730 shares of the company’s stock valued at $150,000 after buying an additional 1,149 shares in the last quarter. Acrospire Investment Management LLC increased its position in Regal Beloit Corp. by 9.7% in the second quarter. Acrospire Investment Management LLC now owns 3,400 shares of the company’s stock valued at $187,000 after buying an additional 300 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Regal Beloit Corp. during the second quarter valued at $188,000. Finally, American Financial Group Inc. purchased a new position in Regal Beloit Corp. during the first quarter valued at $200,000. 95.96% of the stock is owned by institutional investors.
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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