Wall Street brokerages forecast that Regal Beloit Corp (NYSE:RBC) will post $843.87 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Regal Beloit’s earnings. The lowest sales estimate is $803.00 million and the highest is $917.60 million. Regal Beloit posted sales of $925.40 million during the same quarter last year, which suggests a negative year over year growth rate of 8.8%. The firm is scheduled to issue its next earnings results on Monday, November 4th.
According to Zacks, analysts expect that Regal Beloit will report full-year sales of $3.38 billion for the current year, with estimates ranging from $3.31 billion to $3.56 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.43 billion, with estimates ranging from $3.25 billion to $3.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Regal Beloit.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, August 5th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.11). Regal Beloit had a net margin of 7.34% and a return on equity of 10.81%. The company had revenue of $873.70 million for the quarter, compared to analysts’ expectations of $903.84 million. During the same quarter last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis.
A number of brokerages have issued reports on RBC. Goldman Sachs Group set a $80.00 price objective on Regal Beloit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Regal Beloit from a “sell” rating to a “hold” rating and set a $81.00 price objective on the stock in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $85.80.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RBC. Pearl River Capital LLC grew its stake in Regal Beloit by 311.6% in the second quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 268 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Regal Beloit during the 2nd quarter valued at approximately $34,000. North Star Investment Management Corp. acquired a new position in Regal Beloit during the 3rd quarter valued at approximately $35,000. Point72 Hong Kong Ltd increased its stake in Regal Beloit by 156.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 1,029 shares in the last quarter. Finally, TD Asset Management Inc. acquired a new position in Regal Beloit during the 1st quarter valued at approximately $216,000. 93.13% of the stock is currently owned by hedge funds and other institutional investors.
RBC stock traded up $2.78 during midday trading on Friday, reaching $71.82. 237,315 shares of the company traded hands, compared to its average volume of 249,909. Regal Beloit has a 52-week low of $66.04 and a 52-week high of $87.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.61 and a current ratio of 2.79. The business has a 50 day moving average of $71.95 and a 200-day moving average of $77.68. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.23 and a beta of 1.61.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.67%. Regal Beloit’s dividend payout ratio is 20.00%.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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