Regal Beloit Corp (NYSE:RBC) – Analysts at Oppenheimer issued their Q1 2019 EPS estimates for Regal Beloit in a research report issued to clients and investors on Monday, November 5th. Oppenheimer analyst C. Glynn anticipates that the industrial products company will post earnings of $1.50 per share for the quarter. Oppenheimer also issued estimates for Regal Beloit’s Q2 2019 earnings at $1.81 EPS, Q3 2019 earnings at $1.76 EPS, Q4 2019 earnings at $1.43 EPS and FY2020 earnings at $7.00 EPS.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings results on Monday, November 5th. 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. The company had revenue of $925.40 million during the quarter, compared to the consensus estimate of $924.18 million. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. Regal Beloit’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Regal Beloit from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price objective (down from $95.00) on shares of Regal Beloit in a report on Monday. BMO Capital Markets upped their price objective on Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Finally, Goldman Sachs Group assumed coverage on Regal Beloit in a report on Wednesday, October 3rd. They set a “buy” rating and a $95.00 price objective for the company. 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 has a consensus rating of “Buy” and a consensus target price of $90.25.
RBC stock opened at $76.50 on Wednesday. The firm has a market cap of $3.28 billion, a PE ratio of 15.71, a PEG ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. Regal Beloit has a 52 week low of $67.84 and a 52 week high of $86.75.
Institutional investors have recently made changes to their positions in the stock. Intrinsic Edge Capital Management LLC purchased a new stake in Regal Beloit during the 2nd quarter worth $6,215,000. Mutual of America Capital Management LLC boosted its position in Regal Beloit by 3.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 37,751 shares of the industrial products company’s stock worth $3,088,000 after purchasing an additional 1,174 shares during the period. Jane Street Group LLC purchased a new stake in Regal Beloit during the 2nd quarter worth $458,000. California Public Employees Retirement System boosted its position in Regal Beloit by 11.2% during the 2nd quarter. California Public Employees Retirement System now owns 130,944 shares of the industrial products company’s stock worth $10,711,000 after purchasing an additional 13,227 shares during the period. Finally, Dean Investment Associates LLC boosted its position in Regal Beloit by 6.8% during the 2nd quarter. Dean Investment Associates LLC now owns 138,577 shares of the industrial products company’s stock worth $11,336,000 after purchasing an additional 8,860 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Christopher L. Doerr sold 6,085 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of 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 SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be issued 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 payout ratio is 23.00%.
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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