Barrington Research Weighs in on Regal Beloit Corp.’s FY2017 Earnings (RBC)
Regal Beloit Corp. (NYSE:RBC) – Stock analysts at Barrington Research dropped their FY2017 EPS estimates for shares of Regal Beloit Corp. in a note issued to investors on Monday. Barrington Research analyst R. Hokanson now anticipates that the firm will post earnings per share of $5.10 for the year, down from their prior estimate of $5.33.
Regal Beloit Corp. (NYSE:RBC) last issued its quarterly earnings data on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Regal Beloit Corp. had a return on equity of 10.35% and a net margin of 4.30%. The business had revenue of $838.60 million for the quarter, compared to analysts’ expectations of $857.88 million. During the same period in the previous year, the firm posted $1.53 EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year.
RBC has been the topic of several other reports. Seaport Global Securities cut Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and dropped their price objective for the company from $68.00 to $64.00 in a research report on Tuesday, September 27th. BMO Capital Markets cut Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $76.00 to $66.00 in a research report on Tuesday, August 2nd. TheStreet cut Regal Beloit Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 20th. Zacks Investment Research raised Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. Finally, Jefferies Group reissued a “hold” rating on shares of Regal Beloit Corp. in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.50.
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Shares of Regal Beloit Corp. (NYSE:RBC) traded up 0.67% on Tuesday, hitting $60.05. The stock had a trading volume of 180,893 shares. The stock has a market capitalization of $2.69 billion, a P/E ratio of 18.95 and a beta of 1.57. The firm has a 50-day moving average price of $59.68 and a 200-day moving average price of $60.13. Regal Beloit Corp. has a 52 week low of $47.77 and a 52 week high of $68.45.
Hedge funds have recently modified their holdings of the stock. Ronald Blue & Co. LLC increased its stake in shares of Regal Beloit Corp. by 0.4% in the third quarter. Ronald Blue & Co. LLC now owns 4,518 shares of the company’s stock valued at $269,000 after buying an additional 18 shares during the period. Hsbc Holdings PLC increased its stake in shares of 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 period. State Treasurer State of Michigan increased its stake in shares of 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 period. Utah Retirement Systems increased its stake in shares of 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 period. Finally, Genesee Valley Trust Co. increased its stake in shares of 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 period. 96.00% of the stock is currently owned by institutional investors.
In related 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 transaction of $100,889.05. Following the sale, the vice president now owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 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.
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