Regal Beloit Corp (NYSE:RBC) – Equities research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Regal Beloit in a report issued on Monday. KeyCorp analyst J. Hammond forecasts that the industrial products company will post earnings of $1.27 per share for the quarter. KeyCorp also issued estimates for Regal Beloit’s Q2 2018 earnings at $1.52 EPS, Q3 2018 earnings at $1.54 EPS, Q4 2018 earnings at $1.27 EPS and FY2018 earnings at $5.60 EPS.
A number of other research analysts also recently issued reports on RBC. Seaport Global Securities upgraded Regal Beloit from a “neutral” rating to a “buy” rating and raised their price target for the stock from $82.00 to $88.00 in a research note on Wednesday. BMO Capital Markets dropped their price target on Regal Beloit from $88.00 to $85.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 7th. Royal Bank of Canada restated a “buy” rating on shares of Regal Beloit in a research note on Monday, November 6th. ValuEngine downgraded Regal Beloit from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Zacks Investment Research downgraded Regal Beloit from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Regal Beloit has a consensus rating of “Hold” and an average price target of $86.70.
Regal Beloit (NYSE:RBC) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The firm had revenue of $820.70 million for the quarter, compared to the consensus estimate of $794.65 million. Regal Beloit had a return on equity of 9.64% and a net margin of 6.34%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS.
Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Regal Beloit by 2.2% in the 2nd quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock valued at $94,869,000 after purchasing an additional 24,844 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Regal Beloit by 9.8% in the 4th quarter. Fisher Asset Management LLC now owns 705,483 shares of the industrial products company’s stock valued at $54,040,000 after purchasing an additional 63,157 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Regal Beloit by 11.4% in the 3rd quarter. Prudential Financial Inc. now owns 630,849 shares of the industrial products company’s stock valued at $49,837,000 after purchasing an additional 64,750 shares during the last quarter. LSV Asset Management grew its stake in shares of Regal Beloit by 133.6% in the 4th quarter. LSV Asset Management now owns 543,660 shares of the industrial products company’s stock valued at $41,644,000 after purchasing an additional 310,927 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Regal Beloit by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 500,585 shares of the industrial products company’s stock valued at $38,345,000 after purchasing an additional 9,056 shares during the last quarter. Institutional investors own 94.04% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.41%. Regal Beloit’s dividend payout ratio (DPR) is currently 21.94%.
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About Regal Beloit
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.
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