Zacks: Analysts Expect Regal Beloit Corp (RBC) Will Post Quarterly Sales of $790.31 Million

Analysts expect Regal Beloit Corp (NYSE:RBC) to post sales of $790.31 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Regal Beloit’s earnings, with estimates ranging from $776.49 million to $799.20 million. Regal Beloit posted sales of $758.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The firm is expected to announce its next quarterly earnings report on Monday, February 5th.

On average, analysts expect that Regal Beloit will report full year sales of $790.31 million for the current financial year, with estimates ranging from $3.30 billion to $3.34 billion. For the next year, analysts anticipate that the company will post sales of $3.44 billion per share, with estimates ranging from $3.43 billion to $3.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Regal Beloit.

Regal Beloit (NYSE:RBC) last announced its earnings results on Monday, November 6th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $857.00 million for the quarter, compared to analyst estimates of $837.19 million. Regal Beloit had a return on equity of 9.76% and a net margin of 6.28%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 EPS.

RBC has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 target price on shares of Regal Beloit in a research report on Tuesday, November 28th. Robert W. Baird reiterated a “buy” rating and set a $88.00 target price on shares of Regal Beloit in a research report on Wednesday, October 4th. ValuEngine cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Regal Beloit presently has a consensus rating of “Hold” and an average target price of $86.56.

Shares of Regal Beloit (NYSE:RBC) traded up $0.65 during trading on Friday, hitting $79.15. 386,600 shares of the company were exchanged, compared to its average volume of 287,033. The firm has a market cap of $3,477.86, a PE ratio of 17.21, a P/E/G ratio of 1.33 and a beta of 1.48. The company has a quick ratio of 1.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.48. Regal Beloit has a 1-year low of $68.30 and a 1-year high of $87.50.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, December 28th. Regal Beloit’s payout ratio is presently 22.61%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. acquired a new stake in Regal Beloit in the 3rd quarter valued at about $204,000. Synovus Financial Corp increased its position in Regal Beloit by 4.4% in the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 110 shares in the last quarter. Airain ltd acquired a new stake in Regal Beloit in the 2nd quarter valued at about $224,000. M&T Bank Corp acquired a new stake in Regal Beloit in the 2nd quarter valued at about $237,000. Finally, Bridgewater Associates LP acquired a new stake in Regal Beloit in the 2nd quarter valued at about $248,000. Hedge funds and other institutional investors own 93.81% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2018/01/05/zacks-analysts-expect-regal-beloit-corp-rbc-will-post-quarterly-sales-of-790-31-million.html.

About Regal Beloit

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.

Get a free copy of the Zacks research report on Regal Beloit (RBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply