Regal Beloit Corporation Forecasted to Earn Q3 2017 Earnings of $1.38 Per Share (NYSE:RBC)

Regal Beloit Corporation (NYSE:RBC) – Equities research analysts at KeyCorp cut their Q3 2017 EPS estimates for Regal Beloit Corporation in a note issued to investors on Monday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings per share of $1.38 for the quarter, down from their previous estimate of $1.41. KeyCorp also issued estimates for Regal Beloit Corporation’s Q4 2017 earnings at $1.15 EPS and FY2017 earnings at $4.90 EPS.

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Credit Suisse Group reissued a “buy” rating and issued a $88.00 target price on shares of Regal Beloit Corporation in a research note on Thursday, June 29th. ValuEngine raised shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Regal Beloit Corporation from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, April 11th. Finally, Jefferies Group LLC restated a “hold” rating and set a $73.00 price target on shares of Regal Beloit Corporation in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $83.00.

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Regal Beloit Corporation (NYSE RBC) opened at 81.30 on Wednesday. Regal Beloit Corporation has a 1-year low of $56.45 and a 1-year high of $87.50. The company has a 50 day moving average price of $82.85 and a 200-day moving average price of $78.06. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 17.64 and a beta of 1.52.

Regal Beloit Corporation (NYSE:RBC) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. The company had revenue of $869.20 million for the quarter, compared to analyst estimates of $854.66 million. Regal Beloit Corporation had a return on equity of 10.03% and a net margin of 6.29%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Regal Beloit Corporation by 12,739.2% in the first quarter. BlackRock Inc. now owns 4,042,162 shares of the industrial products company’s stock valued at $305,789,000 after buying an additional 4,010,679 shares during the period. Vanguard Group Inc. boosted its stake in Regal Beloit Corporation by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,992,141 shares of the industrial products company’s stock valued at $302,006,000 after buying an additional 253,058 shares during the period. Dimensional Fund Advisors LP boosted its stake in Regal Beloit Corporation by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,519,036 shares of the industrial products company’s stock valued at $190,565,000 after buying an additional 233,454 shares during the period. Alliancebernstein L.P. boosted its stake in Regal Beloit Corporation by 19.1% in the first quarter. Alliancebernstein L.P. now owns 1,438,609 shares of the industrial products company’s stock valued at $108,831,000 after buying an additional 231,211 shares during the period. Finally, State Street Corp boosted its stake in Regal Beloit Corporation by 3.7% in the first quarter. State Street Corp now owns 1,138,449 shares of the industrial products company’s stock valued at $86,125,000 after buying an additional 40,232 shares during the period. 93.70% of the stock is owned by institutional investors and hedge funds.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the firm’s 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 completion of the transaction, the director now owns 3,726 shares of the company’s stock, valued at approximately $305,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry W. Knueppel sold 10,800 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $80.03, for a total transaction of $864,324.00. Following the completion of the transaction, the director now directly owns 4,326 shares of the company’s stock, valued at approximately $346,209.78. The disclosure for this sale can be found here. Insiders sold a total of 44,463 shares of company stock valued at $3,677,364 in the last three months. 2.20% of the stock is currently owned by corporate insiders.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 1.28%. Regal Beloit Corporation’s dividend payout ratio is presently 22.96%.

About Regal Beloit Corporation

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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