Wall Street analysts predict that Regal Beloit Corp (NYSE:RBC) will post $741.93 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Regal Beloit’s earnings. The lowest sales estimate is $724.70 million and the highest is $763.22 million. Regal Beloit posted sales of $881.70 million during the same quarter last year, which suggests a negative year over year growth rate of 15.9%. The company is scheduled to announce its next quarterly earnings results on Monday, February 3rd.
On average, analysts expect that Regal Beloit will report full year sales of $3.24 billion for the current year, with estimates ranging from $3.22 billion to $3.26 billion. For the next financial year, analysts expect that the business will post sales of $3.19 billion, with estimates ranging from $3.10 billion to $3.23 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Regal Beloit.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings results on Monday, November 4th. The industrial products company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. Regal Beloit had a return on equity of 10.14% and a net margin of 7.62%. The firm had revenue of $772.30 million for the quarter, compared to the consensus estimate of $808.49 million. During the same period in the previous year, the business earned $1.67 earnings per share. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year.
Shares of Regal Beloit stock traded down $1.48 during trading on Wednesday, reaching $83.16. The company’s stock had a trading volume of 158,463 shares, compared to its average volume of 166,358. The company has a quick ratio of 1.60, a current ratio of 2.83 and a debt-to-equity ratio of 0.54. Regal Beloit has a 12-month low of $66.04 and a 12-month high of $87.31. The company has a market capitalization of $3.41 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.51 and a beta of 1.61. The business has a 50 day moving average price of $80.92 and a 200-day moving average price of $76.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. Regal Beloit’s payout ratio is 20.00%.
In other Regal Beloit news, VP John Avampato sold 5,380 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $82.96, for a total transaction of $446,324.80. Following the sale, the vice president now directly owns 10,234 shares in the company, valued at $849,012.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jonathan J. Schlemmer sold 4,480 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $82.74, for a total value of $370,675.20. Following the sale, the chief operating officer now owns 78,963 shares in the company, valued at $6,533,398.62. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of RBC. Pearl River Capital LLC increased its stake in Regal Beloit by 311.6% in the second quarter. Pearl River Capital LLC now owns 354 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 268 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Regal Beloit in the third quarter valued at $35,000. Point72 Hong Kong Ltd increased its stake in Regal Beloit by 156.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,688 shares of the industrial products company’s stock valued at $138,000 after purchasing an additional 1,029 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Regal Beloit by 10.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,697 shares of the industrial products company’s stock worth $196,000 after acquiring an additional 261 shares during the last quarter. Finally, Trexquant Investment LP increased its stake in Regal Beloit by 44.5% during the second quarter. Trexquant Investment LP now owns 3,755 shares of the industrial products company’s stock worth $307,000 after acquiring an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.
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.
See Also: What is quantitative easing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Regal Beloit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regal Beloit and related companies with MarketBeat.com's FREE daily email newsletter.