Brokerages Anticipate Regal Beloit Corporation (RBC) Will Announce Quarterly Sales of $839.65 Million
Equities research analysts expect that Regal Beloit Corporation (NYSE:RBC) will report $839.65 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for Regal Beloit Corporation’s earnings. The lowest sales estimate is $826.00 million and the highest is $848.20 million. Regal Beloit Corporation reported sales of $809.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The business is scheduled to issue its next earnings results on Monday, November 6th.
On average, analysts expect that Regal Beloit Corporation will report full-year sales of $839.65 million for the current fiscal year, with estimates ranging from $3.25 billion to $3.33 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.41 billion per share, with estimates ranging from $3.36 billion to $3.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Regal Beloit Corporation.
Regal Beloit Corporation (NYSE:RBC) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a return on equity of 9.88% and a net margin of 6.29%. The firm had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis.
Several equities analysts have recently commented on RBC shares. Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. ValuEngine upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Credit Suisse Group reiterated a “buy” rating and set a $88.00 price objective on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. Finally, Wolfe Research started coverage on Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $83.00.
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Shares of Regal Beloit Corporation (NYSE RBC) traded down 0.77% during mid-day trading on Friday, hitting $77.05. The stock had a trading volume of 452,980 shares. The firm has a 50 day moving average price of $77.80 and a 200-day moving average price of $78.66. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The stock has a market cap of $3.44 billion, a P/E ratio of 17.01 and a beta of 1.52.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.35%. The ex-dividend date is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio is presently 22.96%.
In related 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 completion of the sale, the director now directly owns 3,726 shares in the company, valued at approximately $316,710. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. boosted its holdings in Regal Beloit Corporation by 1.8% during the 2nd quarter. Prudential Financial Inc. now owns 566,099 shares of the industrial products company’s stock valued at $46,165,000 after acquiring an additional 10,131 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Regal Beloit Corporation by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 476,010 shares of the industrial products company’s stock valued at $36,010,000 after acquiring an additional 12,329 shares during the period. Macquarie Group Ltd. boosted its holdings in Regal Beloit Corporation by 0.6% during the 1st quarter. Macquarie Group Ltd. now owns 387,018 shares of the industrial products company’s stock valued at $29,278,000 after acquiring an additional 2,216 shares during the period. Gotham Asset Management LLC boosted its holdings in Regal Beloit Corporation by 56.3% during the 1st quarter. Gotham Asset Management LLC now owns 231,875 shares of the industrial products company’s stock valued at $17,541,000 after acquiring an additional 83,548 shares during the period. Finally, Oarsman Capital Inc. boosted its holdings in Regal Beloit Corporation by 21.4% during the 1st quarter. Oarsman Capital Inc. now owns 30,106 shares of the industrial products company’s stock valued at $2,277,000 after acquiring an additional 5,311 shares during the period. Institutional investors own 92.17% of the company’s stock.
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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