Zacks: Brokerages Expect Regal Beloit Corp (RBC) Will Post Quarterly Sales of $929.99 Million
Equities research analysts forecast that Regal Beloit Corp (NYSE:RBC) will report $929.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Regal Beloit’s earnings. The highest sales estimate is $945.00 million and the lowest is $921.90 million. Regal Beloit posted sales of $856.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The firm is scheduled to announce its next earnings report 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 financial year, analysts forecast that the company will report sales of $3.80 billion per share, with estimates ranging from $3.77 billion to $3.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Regal Beloit.
Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.01. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The company had revenue of $959.70 million during the quarter, compared to analysts’ expectations of $953.65 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. Regal Beloit’s quarterly revenue was up 10.4% compared to the same quarter last year.
In related news, Director Christopher L. Doerr sold 6,085 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $81.43, for a total value of $495,501.55. Following the completion of the transaction, the director now owns 17,900 shares in the company, valued at approximately $1,457,597. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Asset Management Inc acquired a new stake in Regal Beloit during the 2nd quarter worth $205,000. Robeco Institutional Asset Management B.V. acquired a new stake in Regal Beloit during the 2nd quarter worth $216,000. Canandaigua National Bank & Trust Co. acquired a new stake in Regal Beloit during the 1st quarter worth $280,000. Regentatlantic Capital LLC grew its holdings in Regal Beloit by 22.9% during the 2nd quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 690 shares during the period. Finally, Balter Liquid Alternatives LLC acquired a new stake in Regal Beloit during the 2nd quarter worth $356,000. 93.82% of the stock is owned by hedge funds and other institutional investors.
RBC stock traded down $0.35 during trading on Friday, hitting $83.10. The company had a trading volume of 272,800 shares, compared to its average volume of 274,627. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. Regal Beloit has a 12 month low of $67.84 and a 12 month high of $86.65. The stock has a market capitalization of $3.63 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, September 27th. Regal Beloit’s dividend payout ratio (DPR) is presently 23.00%.
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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