Analysts forecast that Regal Beloit Corp (NYSE:RBC) will post sales of $879.99 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Regal Beloit’s earnings. The lowest sales estimate is $867.84 million and the highest is $890.50 million. Regal Beloit posted sales of $878.80 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The business is scheduled to report its next earnings results after the market closes on Monday, May 6th.
According to Zacks, analysts expect that Regal Beloit will report full year sales of $3.59 billion for the current year, with estimates ranging from $3.56 billion to $3.65 billion. For the next year, analysts forecast that the firm will report sales of $3.68 billion, with estimates ranging from $3.65 billion to $3.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Regal Beloit.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, February 4th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. The business had revenue of $881.70 million during the quarter, compared to analysts’ expectations of $864.76 million. Regal Beloit had a return on equity of 11.18% and a net margin of 6.34%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Regal Beloit from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Royal Bank of Canada reiterated a “hold” rating on shares of Regal Beloit in a research note on Tuesday, February 5th. Wells Fargo & Co lifted their price objective on Regal Beloit from $75.00 to $85.00 and gave the company a “market perform” rating in a research note on Wednesday, February 6th. Finally, CIBC reissued a “market perform” rating on shares of Regal Beloit in a research report on Tuesday, January 8th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Regal Beloit presently has a consensus rating of “Hold” and an average target price of $90.83.
In other news, Director Henry W. Knueppel sold 5,742 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $84.02, for a total transaction of $482,442.84. Following the sale, the director now owns 5,466 shares of the company’s stock, valued at approximately $459,253.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Avampato sold 2,929 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $80.37, for a total value of $235,403.73. Following the sale, the vice president now directly owns 19,929 shares in the company, valued at approximately $1,601,693.73. The disclosure for this sale can be found here. Insiders have sold a total of 21,862 shares of company stock worth $1,815,734 in the last three months. Corporate insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank increased its position in Regal Beloit by 0.8% during the fourth quarter. Comerica Bank now owns 28,649 shares of the industrial products company’s stock worth $2,158,000 after buying an additional 226 shares during the period. 10 15 Associates Inc. increased its position in Regal Beloit by 5.1% during the fourth quarter. 10 15 Associates Inc. now owns 6,770 shares of the industrial products company’s stock worth $474,000 after buying an additional 330 shares during the period. Commonwealth Bank of Australia increased its position in Regal Beloit by 8.3% during the fourth quarter. Commonwealth Bank of Australia now owns 5,200 shares of the industrial products company’s stock worth $364,000 after buying an additional 400 shares during the period. Resources Investment Advisors Inc. grew its stake in shares of Regal Beloit by 162.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 654 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 405 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Regal Beloit in the 4th quarter valued at approximately $29,000. 93.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of RBC opened at $82.14 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.54. The stock has a market capitalization of $3.61 billion, a PE ratio of 13.69, a P/E/G ratio of 1.31 and a beta of 1.55. Regal Beloit has a 1 year low of $66.04 and a 1 year high of $86.75.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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