Regal Beloit Corp. (NYSE:RBC) – Equities research analysts at KeyCorp increased their Q3 2016 earnings per share estimates for Regal Beloit Corp. in a research note issued to investors on Wednesday. KeyCorp analyst J. Hammond now forecasts that the brokerage will earn $1.26 per share for the quarter, up from their prior estimate of $1.23.
Regal Beloit Corp. (NYSE:RBC) last released its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.24 by $0.10. The firm earned $838.60 million during the quarter, compared to analyst estimates of $857.88 million. Regal Beloit Corp. had a net margin of 4.30% and a return on equity of 10.35%. Regal Beloit Corp.’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.53 earnings per share.
A number of other equities analysts have also commented on the stock. Seaport Global Securities lowered shares of Regal Beloit Corp. from an “accumulate” rating to a “neutral” rating and lowered their price target for the stock from $68.00 to $64.00 in a research report on Tuesday, September 27th. Zacks Investment Research raised shares of Regal Beloit Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. TheStreet raised shares of Regal Beloit Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $63.00 price target on shares of Regal Beloit Corp. in a research report on Tuesday, August 9th. Finally, BMO Capital Markets lowered shares of Regal Beloit Corp. from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $76.00 to $66.00 in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Regal Beloit Corp. currently has an average rating of “Hold” and an average price target of $63.50.
Regal Beloit Corp. (NYSE:RBC) opened at 61.11 on Friday. The stock’s 50 day moving average is $60.20 and its 200-day moving average is $60.26. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 19.28 and a beta of 1.57. Regal Beloit Corp. has a 12 month low of $47.77 and a 12 month high of $68.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 28th. Regal Beloit Corp.’s dividend payout ratio (DPR) is presently 30.28%.
In related news, VP Terry R. Colvin sold 1,615 shares of Regal Beloit Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $62.47, for a total transaction of $100,889.05. Following the sale, the vice president now directly owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of Regal Beloit Corp. by 4.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,332 shares of the company’s stock valued at $273,000 after buying an additional 173 shares during the period. BlackRock Japan Co. Ltd acquired a new stake in Regal Beloit Corp. during the first quarter valued at approximately $757,000. BlackRock Institutional Trust Company N.A. increased its stake in Regal Beloit Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,644,640 shares of the company’s stock valued at $103,760,000 after buying an additional 16,642 shares in the last quarter. BlackRock Fund Advisors increased its stake in Regal Beloit Corp. by 0.4% in the first quarter. BlackRock Fund Advisors now owns 1,490,567 shares of the company’s stock valued at $94,040,000 after buying an additional 5,564 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Regal Beloit Corp. by 12.9% in the first quarter. BlackRock Group LTD now owns 440,927 shares of the company’s stock valued at $27,819,000 after buying an additional 50,324 shares in the last quarter. 95.95% of the stock is currently owned by institutional investors.
Regal Beloit Corp. Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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