Equities Analysts Offer Predictions for Regal Beloit Corp’s Q3 2019 Earnings (RBC)
Regal Beloit Corp (NYSE:RBC) – Research analysts at Seaport Global Securities issued their Q3 2019 EPS estimates for shares of Regal Beloit in a report issued on Wednesday. Seaport Global Securities analyst W. Liptak expects that the industrial products company will post earnings per share of $1.73 for the quarter. Seaport Global Securities currently has a “Buy” rating and a $88.00 target price on the stock.
Several other equities research analysts have also recently weighed in on RBC. Royal Bank of Canada restated a “buy” rating on shares of Regal Beloit in a research report on Monday, November 6th. BMO Capital Markets lowered their price objective on shares of Regal Beloit from $88.00 to $85.00 and set a “market perform” rating for the company in a research report on Tuesday, November 7th. ValuEngine cut shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $86.70.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The firm had revenue of $820.70 million during the quarter, compared to the consensus estimate of $794.65 million. During the same period last year, the firm posted $1.04 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis.
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Regal Beloit by 4.3% during the 4th quarter. BlackRock Inc. now owns 4,243,407 shares of the industrial products company’s stock worth $325,044,000 after buying an additional 173,534 shares during the period. State Street Corp grew its position in shares of Regal Beloit by 2.2% during the 2nd quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock worth $94,869,000 after buying an additional 24,844 shares during the period. Fisher Asset Management LLC grew its position in shares of Regal Beloit by 9.8% during the 4th quarter. Fisher Asset Management LLC now owns 705,483 shares of the industrial products company’s stock worth $54,040,000 after buying an additional 63,157 shares during the period. Prudential Financial Inc. grew its position in shares of Regal Beloit by 11.4% during the 3rd quarter. Prudential Financial Inc. now owns 630,849 shares of the industrial products company’s stock worth $49,837,000 after buying an additional 64,750 shares during the period. Finally, LSV Asset Management grew its position in shares of Regal Beloit by 133.6% during the 4th quarter. LSV Asset Management now owns 543,660 shares of the industrial products company’s stock worth $41,644,000 after buying an additional 310,927 shares during the period. Institutional investors own 94.04% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, March 28th. Regal Beloit’s dividend payout ratio is 21.94%.
Regal Beloit 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.
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