CIBC Reiterates “Market Perform” Rating for Regal Beloit (RBC)

Share on StockTwits

CIBC restated their market perform rating on shares of Regal Beloit (NYSE:RBC) in a report released on Tuesday.

Several other brokerages have also weighed in on RBC. Wolfe Research lowered shares of Regal Beloit from an outperform rating to a market perform rating in a report on Tuesday. Royal Bank of Canada reissued a buy rating and set a $90.00 price objective (down from $95.00) on shares of Regal Beloit in a report on Monday, November 5th. Zacks Investment Research raised shares of Regal Beloit from a hold rating to a buy rating and set a $93.00 price objective for the company in a report on Wednesday, October 3rd. Oppenheimer lowered shares of Regal Beloit from an outperform rating to a market perform rating in a report on Tuesday. Finally, Goldman Sachs Group began coverage on shares of Regal Beloit in a report on Wednesday, October 3rd. They set a buy rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Regal Beloit has an average rating of Hold and an average target price of $89.13.

Shares of RBC stock opened at $71.63 on Tuesday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.10 and a beta of 1.47. 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 has a 1-year low of $66.04 and a 1-year high of $86.75.

Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.06. The company had revenue of $925.40 million during the quarter, compared to analyst estimates of $924.18 million. Regal Beloit had a net margin of 6.34% and a return on equity of 10.73%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.39 EPS. Equities analysts forecast that Regal Beloit will post 5.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 11th. Stockholders of record on Friday, December 28th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, December 27th. Regal Beloit’s dividend payout ratio (DPR) is presently 23.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intrinsic Edge Capital Management LLC purchased a new position in shares of Regal Beloit during the 2nd quarter valued at about $6,215,000. Bank of America Corp DE raised its stake in shares of Regal Beloit by 7.4% during the 2nd quarter. Bank of America Corp DE now owns 204,231 shares of the industrial products company’s stock valued at $16,706,000 after buying an additional 14,033 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Regal Beloit by 67.6% during the 2nd quarter. Macquarie Group Ltd. now owns 23,300 shares of the industrial products company’s stock valued at $1,906,000 after buying an additional 9,400 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Regal Beloit by 42.9% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 19,000 shares of the industrial products company’s stock valued at $1,554,000 after buying an additional 5,700 shares during the last quarter. Finally, Zebra Capital Management LLC raised its stake in shares of Regal Beloit by 32.0% during the 2nd quarter. Zebra Capital Management LLC now owns 9,934 shares of the industrial products company’s stock valued at $813,000 after buying an additional 2,411 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.

Featured Story: How do candlesticks reflect price movement?

Analyst Recommendations for Regal Beloit (NYSE:RBC)

Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Inovalon  Hits New 12-Month High at $14.87
Inovalon Hits New 12-Month High at $14.87
Zacks: Analysts Anticipate First Defiance Financial  Will Post Earnings of $0.56 Per Share
Zacks: Analysts Anticipate First Defiance Financial Will Post Earnings of $0.56 Per Share
Brokerages Set $15.75 Target Price for International Money Express Inc
Brokerages Set $15.75 Target Price for International Money Express Inc
Biocept  Shares Gap Down to $1.67
Biocept Shares Gap Down to $1.67
VirnetX  Shares Gap Up to $6.33
VirnetX Shares Gap Up to $6.33
Zacks: Brokerages Anticipate Repligen Co.  Will Post Quarterly Sales of $50.33 Million
Zacks: Brokerages Anticipate Repligen Co. Will Post Quarterly Sales of $50.33 Million


Leave a Reply

© 2006-2019 Ticker Report