Regal Beloit (NYSE:RBC) issued its quarterly earnings data on Monday. The industrial products company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06, MarketWatch Earnings reports. The firm had revenue of $925.40 million for the quarter, compared to the consensus estimate of $924.18 million. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. Regal Beloit’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.39 EPS. Regal Beloit updated its FY 2018 guidance to $5.85-5.95 EPS and its FY18 guidance to $5.85-5.95 EPS.
Shares of RBC stock traded up $0.21 during midday trading on Wednesday, reaching $76.71. 3,503 shares of the company were exchanged, compared to its average volume of 261,222. Regal Beloit has a 12 month low of $67.84 and a 12 month high of $86.75. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company has a current ratio of 2.24, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 28th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.46%. Regal Beloit’s dividend payout ratio (DPR) is 23.00%.
In other Regal Beloit news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $81.43, for a total transaction of $495,501.55. Following the sale, the director now directly owns 17,900 shares in the company, valued at approximately $1,457,597. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in RBC. Legal & General Group Plc raised its holdings in shares of Regal Beloit by 9.7% in the 1st quarter. Legal & General Group Plc now owns 69,922 shares of the industrial products company’s stock worth $5,129,000 after purchasing an additional 6,160 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Regal Beloit by 2.7% in the 1st quarter. Allianz Asset Management GmbH now owns 493,826 shares of the industrial products company’s stock worth $36,222,000 after purchasing an additional 12,924 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of 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 worth $396,000 after purchasing an additional 1,350 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Regal Beloit by 174.0% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 146,850 shares of the industrial products company’s stock worth $12,012,000 after purchasing an additional 93,250 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Regal Beloit by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 274,763 shares of the industrial products company’s stock worth $22,475,000 after purchasing an additional 11,050 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.
RBC has been the topic of several recent research reports. Goldman Sachs Group initiated coverage on shares of Regal Beloit in a research report on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Regal Beloit from $89.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Wednesday, August 8th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 price objective (down from $95.00) on shares of Regal Beloit in a research report on Monday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Regal Beloit currently has a consensus rating of “Buy” and a consensus target price of $90.25.
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Regal Beloit Company Profile
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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