Regal Beloit (NYSE:RBC) released its earnings results on Monday. The industrial products company reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.06, MarketWatch Earnings reports. The company had revenue of $925.40 million for the quarter, compared to analysts’ expectations of $924.18 million. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 EPS. Regal Beloit updated its FY 2018 guidance to $5.85-5.95 EPS and its FY18 guidance to $5.85-5.95 EPS.
Shares of Regal Beloit stock opened at $77.06 on Tuesday. Regal Beloit has a 52-week low of $67.84 and a 52-week high of $86.75. The stock has a market capitalization of $3.28 billion, a P/E ratio of 13.85, a PEG ratio of 1.27 and a beta of 1.51. The company has a current ratio of 2.24, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 28th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, December 27th. Regal Beloit’s dividend payout ratio is currently 23.00%.
In related news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $81.43, for a total value of $495,501.55. Following the sale, the director now directly owns 17,900 shares in the company, valued at approximately $1,457,597. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Regal Beloit by 9.7% during the 1st quarter. Legal & General Group Plc now owns 69,922 shares of the industrial products company’s stock valued at $5,129,000 after buying an additional 6,160 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Regal Beloit by 2.7% during the 1st quarter. Allianz Asset Management GmbH now owns 493,826 shares of the industrial products company’s stock valued at $36,222,000 after buying an additional 12,924 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Regal Beloit by 38.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,850 shares of the industrial products company’s stock valued at $396,000 after buying an additional 1,350 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its holdings in Regal Beloit by 174.0% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 146,850 shares of the industrial products company’s stock valued at $12,012,000 after buying an additional 93,250 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Regal Beloit by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 274,763 shares of the industrial products company’s stock valued at $22,475,000 after buying an additional 11,050 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
A number of equities research analysts have recently commented on RBC shares. BMO Capital Markets lifted their target price 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. Royal Bank of Canada reiterated a “buy” rating on shares of Regal Beloit in a research note on Monday. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Wednesday, October 3rd. Finally, Goldman Sachs Group initiated coverage on Regal Beloit in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $90.25.
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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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