Seaport Global Securities Weighs in on Regal Beloit Corp’s Q3 2019 Earnings (RBC)
Regal Beloit Corp (NYSE:RBC) – Research analysts at Seaport Global Securities issued their Q3 2019 earnings per share (EPS) estimates for shares of Regal Beloit in a research note issued to investors on Wednesday. Seaport Global Securities analyst W. Liptak expects that the industrial products company will post earnings of $1.73 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $88.00 price target on the stock.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Regal Beloit from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. BMO Capital Markets reduced their price target on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating on the stock in a report on Tuesday, November 7th. ValuEngine upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Regal Beloit in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $86.70.
Regal Beloit (NYSE:RBC) last released its earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The company had revenue of $820.70 million for the quarter, compared to analysts’ expectations of $794.65 million. During the same quarter in the previous year, the company earned $1.04 EPS. Regal Beloit’s revenue for the quarter was up 8.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.38%. Regal Beloit’s dividend payout ratio (DPR) is presently 21.94%.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its holdings in shares of Regal Beloit by 2.5% during the second quarter. Wells Fargo & Company MN now owns 59,465 shares of the industrial products company’s stock valued at $4,850,000 after purchasing an additional 1,468 shares during the period. California Public Employees Retirement System increased its holdings in shares of Regal Beloit by 5.6% during the second quarter. California Public Employees Retirement System now owns 99,500 shares of the industrial products company’s stock valued at $8,114,000 after purchasing an additional 5,300 shares during the period. M&T Bank Corp acquired a new position in shares of Regal Beloit during the second quarter valued at $237,000. Shelton Capital Management acquired a new position in shares of Regal Beloit during the second quarter valued at $277,000. Finally, State Street Corp increased its holdings in shares of Regal Beloit by 2.2% during the second quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock valued at $94,869,000 after purchasing an additional 24,844 shares during the period. Hedge funds and other institutional investors own 94.04% of the company’s stock.
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Regal Beloit 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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