Regal Beloit Corp (NYSE:RBC) Receives Consensus Rating of “Hold” from Brokerages
Regal Beloit Corp (NYSE:RBC) has earned an average rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $84.75.
A number of research firms have recently weighed in on RBC. Goldman Sachs Group set a $80.00 target price on shares of Regal Beloit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research raised shares of Regal Beloit from a “sell” rating to a “hold” rating and set a $81.00 target price for the company in a research report on Monday, August 5th.
Institutional investors have recently added to or reduced their stakes in the company. Pearl River Capital LLC lifted its stake in Regal Beloit by 311.6% in the 2nd quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 268 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Regal Beloit in the 2nd quarter worth approximately $34,000. Point72 Hong Kong Ltd lifted its stake in Regal Beloit by 156.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock worth $138,000 after purchasing an additional 1,029 shares in the last quarter. TD Asset Management Inc. purchased a new stake in Regal Beloit in the 1st quarter worth approximately $216,000. Finally, Trexquant Investment LP grew its holdings in shares of Regal Beloit by 44.5% during the 2nd quarter. Trexquant Investment LP now owns 3,755 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 1,157 shares during the last quarter. 93.28% of the stock is owned by hedge funds and other institutional investors.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, August 5th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.11). Regal Beloit had a return on equity of 10.81% and a net margin of 7.34%. The firm had revenue of $873.70 million during the quarter, compared to the consensus estimate of $903.84 million. During the same period in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, research analysts predict that Regal Beloit will post 5.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 26th. Regal Beloit’s dividend payout ratio is currently 20.00%.
Regal Beloit Company Profile
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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