Oppenheimer lowered shares of Regal Beloit (NYSE:RBC) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday. Oppenheimer also issued estimates for Regal Beloit’s Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.76 EPS, Q3 2019 earnings at $1.70 EPS, Q4 2019 earnings at $1.39 EPS, FY2019 earnings at $6.30 EPS and FY2020 earnings at $6.85 EPS.
Several other analysts have also commented on the company. Wolfe Research lowered Regal Beloit from an outperform rating to a market perform rating in a report on Tuesday. Royal Bank of Canada downgraded Regal Beloit from an outperform rating to a market perform rating in a research report on Tuesday. BMO Capital Markets lowered their price target on Regal Beloit to $83.00 and set a market perform rating on the stock in a research report on Wednesday, November 7th. Zacks Investment Research downgraded Regal Beloit from a buy rating to a hold rating in a research report on Friday, October 5th. Finally, Goldman Sachs Group initiated coverage on Regal Beloit in a research report on Wednesday, October 3rd. They set a buy rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $89.13.
Regal Beloit stock traded down $0.62 during midday trading on Tuesday, hitting $71.71. 3,846 shares of the company were exchanged, compared to its average volume of 239,693. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.10 and a beta of 1.47. Regal Beloit has a fifty-two week low of $66.04 and a fifty-two week high of $86.75. The company has a quick ratio of 1.42, a current ratio of 2.61 and a debt-to-equity ratio of 0.54.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, November 5th. The industrial products company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.61 by $0.06. The firm had revenue of $925.40 million for the quarter, compared to analyst estimates of $924.18 million. Regal Beloit had a return on equity of 10.73% and a net margin of 6.34%. Regal Beloit’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. Equities analysts expect that Regal Beloit will post 5.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be given a $0.28 dividend. The ex-dividend date is Thursday, December 27th. This represents a $1.12 annualized dividend and a dividend yield of 1.56%. Regal Beloit’s dividend payout ratio (DPR) is presently 23.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBC. First Hawaiian Bank purchased a new position in shares of Regal Beloit in the third quarter valued at approximately $169,000. C M Bidwell & Associates Ltd. lifted its position in shares of Regal Beloit by 150.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 1,385 shares in the last quarter. Ifrah Financial Services Inc. purchased a new position in shares of Regal Beloit in the third quarter valued at approximately $207,000. Virtu Financial LLC purchased a new position in shares of Regal Beloit in the third quarter valued at approximately $213,000. Finally, Stevens Capital Management LP purchased a new position in shares of Regal Beloit in the third quarter valued at approximately $233,000. Institutional investors and hedge funds own 92.65% of the company’s stock.
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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