$839.65 Million in Sales Expected for Regal Beloit Corporation (RBC) This Quarter
Analysts expect Regal Beloit Corporation (NYSE:RBC) to announce $839.65 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Regal Beloit Corporation’s earnings. The highest sales estimate is $848.20 million and the lowest is $826.00 million. Regal Beloit Corporation reported sales of $809.60 million during the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings report on Monday, November 6th.
According to Zacks, 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 firms that cover Regal Beloit Corporation.
Regal Beloit Corporation (NYSE:RBC) last issued its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 in the previous year, the company posted $1.14 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis.
Several equities analysts have recently weighed in on RBC shares. Stifel Nicolaus reissued a “hold” rating and set a $85.00 price target on shares of Regal Beloit Corporation in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Tuesday, June 6th. BidaskClub lowered Regal Beloit Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Regal Beloit Corporation in a report on Thursday, June 29th. Finally, Wolfe Research began coverage on Regal Beloit Corporation in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $86.83.
In related news, Director Henry W. Knueppel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the transaction, 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 SEC, which is available through the SEC website. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBC. Dynamic Technology Lab Private Ltd bought a new stake in Regal Beloit Corporation during the second quarter valued at about $587,000. Ameritas Investment Partners Inc. increased its position in Regal Beloit Corporation by 1.6% in the second quarter. Ameritas Investment Partners Inc. now owns 13,409 shares of the industrial products company’s stock worth $1,094,000 after buying an additional 206 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Regal Beloit Corporation in the second quarter worth about $468,000. Cubist Systematic Strategies LLC increased its position in Regal Beloit Corporation by 7,741.2% in the second quarter. Cubist Systematic Strategies LLC now owns 25,484 shares of the industrial products company’s stock worth $2,078,000 after buying an additional 25,159 shares in the last quarter. Finally, State Street Corp increased its position in Regal Beloit Corporation by 2.2% in the second quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock worth $94,869,000 after buying an additional 24,844 shares in the last quarter. Institutional investors own 92.14% of the company’s stock.
Regal Beloit Corporation (NYSE:RBC) opened at 80.25 on Wednesday. The stock has a market cap of $3.58 billion, a PE ratio of 17.72 and a beta of 1.53. The stock’s 50 day moving average price is $76.85 and its 200-day moving average price is $79.07. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.
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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