Brokerages predict that Regal Beloit Corp (NYSE:RBC) will announce $929.99 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Regal Beloit’s earnings, with the lowest sales estimate coming in at $921.90 million and the highest estimate coming in at $945.00 million. Regal Beloit posted sales of $856.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next earnings results on Monday, November 5th.
On average, analysts expect that Regal Beloit will report full-year sales of $3.65 billion for the current fiscal year, with estimates ranging from $3.63 billion to $3.67 billion. For the next year, analysts anticipate that the firm will post sales of $3.80 billion per share, with estimates ranging from $3.77 billion to $3.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Regal Beloit.
Regal Beloit (NYSE:RBC) last released its earnings results on Monday, August 6th. The industrial products company reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.01. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. The business had revenue of $959.70 million for the quarter, compared to the consensus estimate of $953.65 million. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year.
Several research analysts have recently weighed in on RBC shares. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Friday, May 11th. BMO Capital Markets boosted their price target on Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. Finally, Wolfe Research started coverage on Regal Beloit in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $89.00.
Shares of RBC stock traded up $0.70 during mid-day trading on Friday, hitting $83.65. The company’s stock had a trading volume of 202,700 shares, compared to its average volume of 275,235. Regal Beloit has a 52-week low of $67.84 and a 52-week high of $86.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. The stock has a market capitalization of $3.64 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.41 and a beta of 1.52.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, September 27th. Regal Beloit’s dividend payout ratio is currently 23.00%.
In related news, Director Christopher L. Doerr sold 6,085 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the sale, the director now owns 17,900 shares in the company, valued at $1,457,597. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC bought a new position in shares of Regal Beloit in the second quarter worth about $14,967,000. State of Alaska Department of Revenue boosted its stake in shares of Regal Beloit by 38.6% in the second quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock worth $396,000 after acquiring an additional 1,350 shares during the period. Northern Trust Corp boosted its stake in shares of Regal Beloit by 1.6% in the first quarter. Northern Trust Corp now owns 613,691 shares of the industrial products company’s stock worth $45,014,000 after acquiring an additional 9,730 shares during the period. BlackRock Inc. boosted its stake in shares of Regal Beloit by 5.6% in the first quarter. BlackRock Inc. now owns 4,480,349 shares of the industrial products company’s stock worth $328,633,000 after acquiring an additional 236,942 shares during the period. Finally, Dean Investment Associates LLC boosted its stake in shares of Regal Beloit by 6.8% in the second quarter. Dean Investment Associates LLC now owns 138,577 shares of the industrial products company’s stock worth $11,336,000 after acquiring an additional 8,860 shares during the period. Institutional investors own 93.83% 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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