Regal Beloit Corporation (NYSE:RBC) Updates FY17 Earnings Guidance

Regal Beloit Corporation (NYSE:RBC) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $4.70-$5.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.86.

A number of research analysts have recently commented on the company. BidaskClub lowered Regal Beloit Corporation from a buy rating to a hold rating in a report on Thursday, June 22nd. Zacks Investment Research lowered Regal Beloit Corporation from a buy rating to a hold rating in a report on Thursday, August 10th. Stifel Nicolaus reissued a hold rating and set a $85.00 price objective on shares of Regal Beloit Corporation in a report on Wednesday, July 19th. CIBC raised Regal Beloit Corporation from a market perform rating to an outperform rating in a report on Monday, May 15th. Finally, ValuEngine raised Regal Beloit Corporation from a hold rating to a buy rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $83.00.

Regal Beloit Corporation (RBC) traded down 0.46% during mid-day trading on Friday, reaching $76.05. The company’s stock had a trading volume of 317,824 shares. The stock has a market cap of $3.39 billion, a PE ratio of 16.79 and a beta of 1.52. The company has a 50 day moving average of $82.65 and a 200-day moving average of $78.55. Regal Beloit Corporation has a 52-week low of $56.45 and a 52-week high of $87.50.

Regal Beloit Corporation (NYSE:RBC) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. The firm 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 9.88% and a net margin of 6.29%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities analysts forecast that Regal Beloit Corporation will post $4.86 earnings per share for the current year.

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.04 annualized dividend and a yield of 1.37%. Regal Beloit Corporation’s dividend payout ratio is 22.96%.

In other Regal Beloit Corporation news, Director Henry W. Knueppel sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 3,726 shares in the company, valued at $305,532. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henry W. Knueppel sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $85.00, for a total value of $1,700,000.00. Following the completion of the transaction, the director now directly owns 3,726 shares in the company, valued at approximately $316,710. The disclosure for this sale can be found here. Insiders sold 33,663 shares of company stock worth $2,813,040 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

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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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