Regal Beloit Corporation (RBC) Issues FY17 Earnings Guidance
Regal Beloit Corporation (NYSE:RBC) issued an update on its FY17 earnings guidance on Monday morning. The company provided EPS guidance of $4.70-$5.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.86.
Shares of Regal Beloit Corporation (NYSE:RBC) traded up 0.48% on Monday, reaching $84.35. 297,699 shares of the company traded hands. The firm has a market capitalization of $3.78 billion, a P/E ratio of 18.30 and a beta of 1.52. The stock has a 50-day moving average price of $82.72 and a 200 day moving average price of $77.94. Regal Beloit Corporation has a 1-year low of $56.45 and a 1-year high of $87.50.
Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to the consensus estimate of $854.66 million. Regal Beloit Corporation had a net margin of 6.46% and a return on equity of 9.80%. Regal Beloit Corporation’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. Analysts anticipate that Regal Beloit Corporation will post $4.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.23%. Regal Beloit Corporation’s dividend payout ratio is currently 22.56%.
A number of analysts have issued reports on the stock. BidaskClub downgraded shares of Regal Beloit Corporation from a hold rating to a sell rating in a report on Thursday. Stifel Nicolaus reissued a hold rating and issued a $85.00 price objective on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a hold rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Wolfe Research initiated coverage on shares of Regal Beloit Corporation in a research note on Tuesday, July 11th. They issued a market perform rating for the company. Finally, Credit Suisse Group reissued a buy rating and issued a $88.00 price objective on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Regal Beloit Corporation presently has a consensus rating of Hold and a consensus target price of $83.00.
In related news, Director Henry W. Knueppel sold 10,000 shares of Regal Beloit Corporation stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $82.00, for a total transaction of $820,000.00. Following the completion of the sale, the director now owns 3,726 shares in the company, valued at approximately $305,532. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry W. Knueppel sold 20,000 shares of Regal Beloit Corporation stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the sale, the director now owns 3,726 shares of the company’s stock, valued at approximately $316,710. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,463 shares of company stock valued at $3,677,364. 2.20% of the stock is owned by corporate insiders.
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Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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