Wall Street brokerages predict that Regal Beloit Corp (NYSE:RBC) will report $867.34 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Regal Beloit’s earnings, with the highest sales estimate coming in at $881.20 million and the lowest estimate coming in at $855.97 million. Regal Beloit reported sales of $813.50 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, May 14th.
On average, analysts expect that Regal Beloit will report full year sales of $867.34 million for the current financial year, with estimates ranging from $3.47 billion to $3.53 billion. For the next year, analysts anticipate that the business will post sales of $3.63 billion per share, with estimates ranging from $3.56 billion to $3.69 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Regal Beloit.
Regal Beloit (NYSE:RBC) last released its earnings results on Monday, February 5th. The industrial products company reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The firm had revenue of $820.70 million during the quarter, compared to analyst estimates of $794.65 million. Regal Beloit had a return on equity of 9.64% and a net margin of 6.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 earnings per share.
RBC has been the subject of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 target price on shares of Regal Beloit in a research note on Tuesday, November 28th. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, January 2nd. ValuEngine upgraded Regal Beloit from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. BMO Capital Markets dropped their target price on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Finally, Seaport Global Securities upgraded Regal Beloit from a “neutral” rating to a “buy” rating and upped their target price for the company from $82.00 to $88.00 in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $86.08.
Regal Beloit (RBC) opened at $73.85 on Friday. The company has a market capitalization of $3,260.00, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.19 and a beta of 1.44. Regal Beloit has a 12 month low of $71.05 and a 12 month high of $87.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.21 and a quick ratio of 1.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.04 annualized dividend and a yield of 1.41%. Regal Beloit’s dividend payout ratio is presently 21.85%.
A number of large investors have recently made changes to their positions in RBC. LSV Asset Management increased its stake in Regal Beloit by 133.6% during the fourth quarter. LSV Asset Management now owns 543,660 shares of the industrial products company’s stock worth $41,644,000 after acquiring an additional 310,927 shares during the last quarter. Principal Financial Group Inc. increased its stake in Regal Beloit by 133.4% during the third quarter. Principal Financial Group Inc. now owns 444,149 shares of the industrial products company’s stock worth $35,088,000 after acquiring an additional 253,888 shares during the last quarter. BlackRock Inc. increased its stake in Regal Beloit by 4.3% during the fourth quarter. BlackRock Inc. now owns 4,243,407 shares of the industrial products company’s stock worth $325,044,000 after acquiring an additional 173,534 shares during the last quarter. New Amsterdam Partners LLC NY acquired a new stake in Regal Beloit during the fourth quarter worth about $5,520,000. Finally, Guggenheim Capital LLC increased its stake in Regal Beloit by 306.0% during the fourth quarter. Guggenheim Capital LLC now owns 94,445 shares of the industrial products company’s stock worth $7,235,000 after acquiring an additional 71,185 shares during the last quarter. Institutional investors own 94.81% 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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