Equities Analysts Issue Forecasts for Regal Beloit Corp’s Q2 2017 Earnings (RBC)
Regal Beloit Corp (NYSE:RBC) – Research analysts at Seaport Global Securities upped their Q2 2017 earnings per share estimates for Regal Beloit Corp in a research note issued on Wednesday. Seaport Global Securities analyst W. Liptak now anticipates that the brokerage will earn $1.22 per share for the quarter, up from their prior estimate of $1.20. Seaport Global Securities also issued estimates for Regal Beloit Corp’s Q4 2017 earnings at $1.14 EPS.
A number of other brokerages have also weighed in on RBC. Stifel Nicolaus lifted their target price on Regal Beloit Corp from $76.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, February 9th. Zacks Investment Research raised Regal Beloit Corp from a “sell” rating to a “hold” rating in a research report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.13.
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Shares of Regal Beloit Corp (NYSE:RBC) opened at 75.25 on Monday. The stock has a market cap of $3.37 billion, a P/E ratio of 16.65 and a beta of 1.58. Regal Beloit Corp has a 52-week low of $51.57 and a 52-week high of $77.20. The firm has a 50-day moving average of $74.59 and a 200-day moving average of $67.84.
Regal Beloit Corp (NYSE:RBC) last released its earnings results on Monday, February 6th. The company reported $1.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.04. Regal Beloit Corp had a net margin of 6.31% and a return on equity of 9.67%. The company earned $758.10 million during the quarter, compared to the consensus estimate of $755.50 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue was down 2.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Wednesday, March 29th. Regal Beloit Corp’s payout ratio is 21.24%.
In other news, Director Henry W. Knueppel sold 25,000 shares of the business’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $75.05, for a total value of $1,876,250.00. Following the completion of the transaction, the director now directly owns 2,777 shares of the company’s stock, valued at approximately $208,413.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Fund Management S.A. bought a new position in Regal Beloit Corp during the third quarter valued at approximately $3,468,000. UBS Asset Management Americas Inc. raised its position in Regal Beloit Corp by 38.3% in the third quarter. UBS Asset Management Americas Inc. now owns 71,813 shares of the company’s stock valued at $4,272,000 after buying an additional 19,890 shares during the last quarter. BlackRock Fund Advisors raised its position in Regal Beloit Corp by 4.7% in the third quarter. BlackRock Fund Advisors now owns 1,626,524 shares of the company’s stock valued at $96,762,000 after buying an additional 73,340 shares during the last quarter. BlackRock Advisors LLC raised its position in Regal Beloit Corp by 1.2% in the third quarter. BlackRock Advisors LLC now owns 24,955 shares of the company’s stock valued at $1,485,000 after buying an additional 294 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Regal Beloit Corp by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 599,560 shares of the company’s stock valued at $35,668,000 after buying an additional 6,327 shares during the last quarter. 88.60% of the stock is owned by hedge funds and other institutional investors.
About Regal Beloit Corp
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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