$1.38 Earnings Per Share Expected for Regal Beloit Corporation (RBC) This Quarter
Brokerages expect Regal Beloit Corporation (NYSE:RBC) to announce earnings per share (EPS) of $1.38 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Regal Beloit Corporation’s earnings, with estimates ranging from $1.33 to $1.42. Regal Beloit Corporation posted earnings of $1.31 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The firm is expected to report its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Regal Beloit Corporation will report full year earnings of $4.87 per share for the current financial year, with EPS estimates ranging from $4.82 to $4.93. For the next fiscal year, analysts anticipate that the company will report earnings of $5.30 per share, with EPS estimates ranging from $5.21 to $5.52. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Regal Beloit Corporation.
Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.01. The business 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 6.29% and a return on equity of 9.88%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS.
A number of research analysts recently weighed in on RBC shares. BidaskClub raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “buy” rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. ValuEngine raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Tuesday, June 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $85.00 price objective on shares of Regal Beloit Corporation in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.00.
In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the sale, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $316,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Tyers Asset Management LLC grew its position in Regal Beloit Corporation by 47.7% during the 1st quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 672 shares during the period. Envestnet Asset Management Inc. grew its position in Regal Beloit Corporation by 5.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 134 shares during the period. World Asset Management Inc acquired a new stake in Regal Beloit Corporation during the 1st quarter worth about $207,000. Synovus Financial Corp grew its position in Regal Beloit Corporation by 4.4% during the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 110 shares during the period. Finally, Elkfork Partners LLC grew its position in Regal Beloit Corporation by 47.7% during the 1st quarter. Elkfork Partners LLC now owns 2,860 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 924 shares during the period. 92.17% of the stock is currently owned by institutional investors.
Shares of Regal Beloit Corporation (RBC) traded down 0.51% during mid-day trading on Thursday, reaching $77.45. The company’s stock had a trading volume of 6,264 shares. The company has a 50-day moving average of $78.44 and a 200-day moving average of $78.67. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The firm has a market cap of $3.45 billion, a PE ratio of 17.10 and a beta of 1.52.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.
About Regal Beloit Corporation
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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