Wall Street analysts expect Regal Beloit Corp (NYSE:RBC) to announce $874.40 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Regal Beloit’s earnings, with estimates ranging from $865.00 million to $882.80 million. Regal Beloit posted sales of $820.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The firm is expected to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Regal Beloit will report full year sales of $3.64 billion for the current fiscal year, with estimates ranging from $3.63 billion to $3.65 billion. For the next year, analysts expect that the firm will post sales of $3.77 billion, with estimates ranging from $3.70 billion to $3.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Regal Beloit.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data 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. Regal Beloit had a net margin of 6.34% and a return on equity of 10.73%. The firm had revenue of $925.40 million during the quarter, compared to analyst estimates of $924.18 million. During the same quarter in the previous year, the business posted $1.39 EPS. Regal Beloit’s revenue was up 8.0% on a year-over-year basis.
A number of research analysts have issued reports on RBC shares. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Wednesday, August 8th. Royal Bank of Canada restated a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Regal Beloit in a research note on Monday, November 5th. Goldman Sachs Group started coverage on shares of Regal Beloit in a research note on Wednesday, October 3rd. They set a “buy” rating and a $95.00 price target on the stock. Finally, BMO Capital Markets cut their price target on shares of Regal Beloit to $83.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $89.13.
Regal Beloit stock traded up $1.28 during mid-day trading on Friday, reaching $76.71. 185,930 shares of the company traded hands, compared to its average volume of 280,329. The company has a current ratio of 2.61, a quick ratio of 1.42 and a debt-to-equity ratio of 0.54. Regal Beloit has a fifty-two week low of $67.84 and a fifty-two week high of $86.75. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.27 and a beta of 1.51.
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 paid a dividend of $0.28 per share. The ex-dividend date is Thursday, December 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.46%. Regal Beloit’s payout ratio is 23.00%.
Hedge funds have recently added to or reduced their stakes in the company. First Hawaiian Bank purchased a new stake in shares of Regal Beloit in the 3rd quarter valued at $169,000. C M Bidwell & Associates Ltd. boosted its holdings in shares of Regal Beloit by 150.5% in the 3rd 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 during the last quarter. World Asset Management Inc purchased a new stake in shares of Regal Beloit in the 2nd quarter valued at $205,000. Ifrah Financial Services Inc. purchased a new stake in shares of Regal Beloit in the 3rd quarter valued at $207,000. Finally, Virtu Financial LLC purchased a new stake in shares of Regal Beloit in the 3rd quarter valued at $213,000. 92.50% of the stock is currently 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.
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