Wall Street brokerages forecast that Regal Beloit Corp (NYSE:RBC) will report sales of $929.99 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Regal Beloit’s earnings. The highest sales estimate is $945.00 million and the lowest is $921.90 million. Regal Beloit posted sales of $856.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The business is expected to issue its next quarterly earnings report on Monday, November 5th.
According to Zacks, analysts expect that Regal Beloit will report full-year sales of $3.65 billion for the current year, with estimates ranging from $3.63 billion to $3.67 billion. For the next financial year, analysts expect that the firm will post sales of $3.80 billion per share, with estimates ranging from $3.77 billion to $3.82 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Regal Beloit.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.01. The business had revenue of $959.70 million during the quarter, compared to analyst estimates of $953.65 million. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. Regal Beloit’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 earnings per share.
RBC has been the subject of a number of research reports. Zacks Investment Research raised shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Wednesday, August 8th. BMO Capital Markets lifted their target price on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Finally, Wolfe Research initiated coverage on shares of Regal Beloit in a report on Wednesday, June 27th. They set an “outperform” rating and a $97.00 target price for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $89.00.
Shares of Regal Beloit stock traded down $0.75 during midday trading on Wednesday, reaching $85.00. The company had a trading volume of 102,800 shares, compared to its average volume of 268,822. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. The firm has a market cap of $3.73 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.45 and a beta of 1.52. Regal Beloit has a 1-year low of $67.84 and a 1-year high of $86.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, September 27th. Regal Beloit’s dividend payout ratio is presently 23.00%.
In other news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $81.43, for a total value of $495,501.55. Following the completion of the transaction, the director now owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its holdings in shares of Regal Beloit by 3.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 37,751 shares of the industrial products company’s stock valued at $3,088,000 after buying an additional 1,174 shares during the period. Dean Investment Associates LLC lifted its position in Regal Beloit by 6.8% in the 2nd quarter. Dean Investment Associates LLC now owns 138,577 shares of the industrial products company’s stock valued at $11,336,000 after acquiring an additional 8,860 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Regal Beloit in the 2nd quarter valued at $14,967,000. Intrinsic Edge Capital Management LLC bought a new stake in Regal Beloit in the 2nd quarter valued at $6,215,000. Finally, State of Alaska Department of Revenue lifted its position in Regal Beloit by 38.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock valued at $396,000 after acquiring an additional 1,350 shares in the last quarter. 93.06% of the stock is owned by institutional investors.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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