Q3 2017 Earnings Estimate for Regal Beloit Corporation (RBC) Issued By Seaport Global Securities

Regal Beloit Corporation (NYSE:RBC) – Equities researchers at Seaport Global Securities dropped their Q3 2017 earnings per share estimates for Regal Beloit Corporation in a report released on Wednesday. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings per share of $1.38 for the quarter, down from their prior estimate of $1.40. Seaport Global Securities also issued estimates for Regal Beloit Corporation’s Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.84 EPS, Q1 2018 earnings at $1.19 EPS, Q2 2018 earnings at $1.41 EPS, Q4 2018 earnings at $1.19 EPS and FY2018 earnings at $5.27 EPS.

Regal Beloit Corporation (NYSE:RBC) last issued its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year.

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A number of other analysts have also weighed in on RBC. Jefferies Group LLC reissued a “hold” rating and set a $73.00 price objective on shares of Regal Beloit Corporation in a research note on Tuesday, April 18th. Oppenheimer Holdings, Inc. raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Friday, May 5th. CIBC raised Regal Beloit Corporation from a “market perform” rating to an “outperform” rating in a research note on Friday, May 5th. Zacks Investment Research lowered Regal Beloit Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Finally, ValuEngine raised Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $83.00.

Shares of Regal Beloit Corporation (NYSE RBC) opened at 78.85 on Thursday. The company has a market cap of $3.52 billion, a P/E ratio of 17.41 and a beta of 1.52. Regal Beloit Corporation has a 12 month low of $56.45 and a 12 month high of $87.50. The stock’s 50 day moving average is $82.93 and its 200 day moving average is $78.39.

A number of hedge funds have recently made changes to their positions in the company. Ronald Blue & Co. LLC raised its stake in shares of Regal Beloit Corporation by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 4,566 shares of the industrial products company’s stock worth $372,000 after buying an additional 14 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Regal Beloit Corporation by 1.1% in the second quarter. Teacher Retirement System of Texas now owns 3,570 shares of the industrial products company’s stock worth $291,000 after buying an additional 39 shares during the last quarter. Synovus Financial Corp raised its stake in shares of 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 worth $209,000 after buying an additional 110 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of 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 worth $191,000 after buying an additional 134 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Regal Beloit Corporation by 1.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,704 shares of the industrial products company’s stock worth $710,000 after buying an additional 139 shares during the last quarter. 93.70% of the stock is owned by institutional investors.

In related news, Director Henry W. Knueppel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the sale, the director now owns 3,726 shares of the company’s stock, valued at $316,710. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry W. Knueppel sold 10,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $82.00, for a total value of $820,000.00. Following the completion of the sale, the director now directly owns 3,726 shares of the company’s stock, valued at approximately $305,532. The disclosure for this sale can be found here. Insiders sold 33,663 shares of company stock valued at $2,813,040 in the last ninety days. 2.20% of the stock is currently owned by insiders.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, September 28th. Regal Beloit Corporation’s payout ratio is 22.96%.

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.

Earnings History and Estimates for Regal Beloit Corporation (NYSE:RBC)

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