Regal Beloit Corporation (RBC) Issues FY17 Earnings Guidance
Regal Beloit Corporation (NYSE:RBC) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $4.70-$5.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.86.
A number of research analysts recently commented on the stock. BidaskClub downgraded shares of Regal Beloit Corporation from a hold rating to a sell rating in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a hold rating and issued a $85.00 target price on shares of Regal Beloit Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a hold rating and issued a $80.00 target price on shares of Regal Beloit Corporation in a research report on Friday, July 14th. Wolfe Research assumed coverage on shares of Regal Beloit Corporation in a research report on Tuesday, July 11th. They issued a market perform rating on the stock. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $88.00 target price on shares of Regal Beloit Corporation in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Regal Beloit Corporation has a consensus rating of Hold and an average target price of $83.00.
Regal Beloit Corporation (NYSE:RBC) opened at 84.35 on Tuesday. The stock has a market capitalization of $3.78 billion, a P/E ratio of 18.30 and a beta of 1.52. The firm’s 50-day moving average is $82.72 and its 200 day moving average is $77.94. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50.
Regal Beloit Corporation (NYSE:RBC) last released its earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Regal Beloit Corporation had a net margin of 6.46% and a return on equity of 9.80%. The firm had revenue of $869.20 million during the quarter, compared to analyst estimates of $854.66 million. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Regal Beloit Corporation will post $4.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 1.23%. Regal Beloit Corporation’s payout ratio is 22.56%.
In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $82.00, for a total transaction of $820,000.00. Following the completion of the sale, the director now owns 3,726 shares in the company, valued at $305,532. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Henry W. Knueppel sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the sale, the director now owns 3,726 shares of the company’s stock, valued at approximately $316,710. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,463 shares of company stock valued at $3,677,364. 2.20% of the stock is owned by insiders.
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Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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