Q3 2017 EPS Estimates for Regal Beloit Corporation (RBC) Raised by Oppenheimer Holdings
Regal Beloit Corporation (NYSE:RBC) – Equities research analysts at Oppenheimer Holdings raised their Q3 2017 earnings per share estimates for shares of Regal Beloit Corporation in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst C. Glynn now expects that the industrial products company will post earnings per share of $1.38 for the quarter, up from their prior estimate of $1.35. Oppenheimer Holdings has a “Outperform” rating and a $90.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Regal Beloit Corporation’s FY2017 earnings at $4.85 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub downgraded shares of Regal Beloit Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. ValuEngine raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Regal Beloit Corporation in a report on Friday, July 14th. Finally, CIBC raised shares of Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $83.00.
Shares of Regal Beloit Corporation (NYSE:RBC) opened at 79.05 on Friday. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50. The firm has a market capitalization of $3.54 billion, a P/E ratio of 17.15 and a beta of 1.52. The stock has a 50 day moving average of $82.95 and a 200-day moving average of $78.34.
Regal Beloit Corporation (NYSE:RBC) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Regal Beloit Corporation had a net margin of 6.29% and a return on equity of 9.88%. The company had revenue of $869.20 million during the quarter, compared to the consensus estimate of $854.66 million. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis.
The company 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 $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s dividend payout ratio is presently 22.96%.
In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $82.00, for a total value of $820,000.00. Following the sale, the director now directly owns 3,726 shares in the company, valued at approximately $305,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry W. Knueppel sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total transaction of $1,700,000.00. Following the completion of the sale, the director now owns 3,726 shares in the company, valued at $316,710. The disclosure for this sale can be found here. Insiders sold a total of 33,663 shares of company stock worth $2,813,040 over the last quarter. Corporate insiders own 2.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Tyers Asset Management LLC boosted its stake in Regal Beloit Corporation by 47.7% in the first quarter. Tyers Asset Management LLC now owns 2,080 shares of the industrial products company’s stock valued at $157,000 after buying an additional 672 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Regal Beloit Corporation by 5.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,514 shares of the industrial products company’s stock valued at $191,000 after buying an additional 134 shares in the last quarter. Synovus Financial Corp boosted its stake in Regal Beloit Corporation by 4.4% in the second quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after buying an additional 110 shares in the last quarter. World Asset Management Inc purchased a new stake in Regal Beloit Corporation during the first quarter valued at about $207,000. Finally, Airain ltd purchased a new stake in Regal Beloit Corporation during the second quarter valued at about $224,000. Institutional investors and hedge funds own 93.70% of the company’s stock.
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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