Regal Beloit Corp (NYSE:RBC) – Equities research analysts at Seaport Global Securities upped their Q2 2017 earnings per share (EPS) estimates for shares of Regal Beloit Corp in a report released on Wednesday. Seaport Global Securities analyst W. Liptak now expects that the firm will post earnings of $1.22 per share for the quarter, up from their prior forecast of $1.20. Seaport Global Securities also issued estimates for Regal Beloit Corp’s Q4 2017 earnings at $1.14 EPS.
RBC has been the subject of a number of other research reports. Zacks Investment Research downgraded Regal Beloit Corp from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. Stifel Nicolaus increased their price objective on Regal Beloit Corp from $76.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, February 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.13.
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Regal Beloit Corp (NYSE:RBC) opened at 75.25 on Monday. The firm has a market capitalization of $3.37 billion, a P/E ratio of 16.65 and a beta of 1.58. Regal Beloit Corp has a one year low of $51.57 and a one year high of $77.20. The firm has a 50-day moving average price of $74.59 and a 200 day moving average price of $67.84.
Regal Beloit Corp (NYSE:RBC) last issued its quarterly earnings results on Monday, February 6th. The company reported $1.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. The company earned $758.10 million during the quarter, compared to the consensus estimate of $755.50 million. Regal Beloit Corp had a return on equity of 9.67% and a net margin of 6.31%. Regal Beloit Corp’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Regal Beloit Corp’s dividend payout ratio (DPR) is 21.24%.
In other news, Director Henry W. Knueppel sold 25,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $75.05, for a total value of $1,876,250.00. Following the sale, the director now directly owns 2,777 shares of the company’s stock, valued at $208,413.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Regal Beloit Corp by 7.3% in the fourth quarter. FMR LLC now owns 6,714,191 shares of the company’s stock worth $464,958,000 after buying an additional 456,561 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Regal Beloit Corp by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,285,582 shares of the company’s stock worth $158,278,000 after buying an additional 96,686 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Regal Beloit Corp by 4.7% in the third quarter. BlackRock Fund Advisors now owns 1,626,524 shares of the company’s stock worth $96,762,000 after buying an additional 73,340 shares in the last quarter. State Street Corp boosted its stake in Regal Beloit Corp by 0.5% in the fourth quarter. State Street Corp now owns 1,098,217 shares of the company’s stock worth $76,058,000 after buying an additional 5,514 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Regal Beloit Corp by 1.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 599,560 shares of the company’s stock worth $35,668,000 after buying an additional 6,327 shares in the last quarter. 88.60% of the stock is currently owned by hedge funds and other institutional investors.
About Regal Beloit Corp
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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