Analysts Expect Regal Beloit Corp (RBC) Will Announce Quarterly Sales of $929.99 Million

Equities research analysts expect that Regal Beloit Corp (NYSE:RBC) will announce sales of $929.99 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Regal Beloit’s earnings, with estimates ranging from $921.90 million to $945.00 million. Regal Beloit reported sales of $856.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that Regal Beloit will report full year sales of $3.65 billion for the current fiscal year, with estimates ranging from $3.63 billion to $3.67 billion. For the next fiscal year, analysts expect that the business will post sales of $3.80 billion per share, with estimates ranging from $3.77 billion to $3.82 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Regal Beloit.

Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, August 6th. The industrial products company reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.01. Regal Beloit had a net margin of 6.77% and a return on equity of 10.30%. The firm had revenue of $959.70 million during the quarter, compared to the consensus estimate of $953.65 million. During the same period last year, the firm posted $1.29 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis.

Several equities analysts have weighed in on RBC shares. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Wednesday, August 8th. BMO Capital Markets lifted their price target on shares of Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, August 8th. Finally, Wolfe Research began coverage on shares of Regal Beloit in a report on Wednesday, June 27th. They set an “outperform” rating and a $97.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Regal Beloit has a consensus rating of “Buy” and a consensus price target of $89.00.

In other news, Director Christopher L. Doerr sold 6,085 shares of Regal Beloit stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $81.43, for a total transaction of $495,501.55. Following the completion of the sale, the director now directly owns 17,900 shares in the company, valued at $1,457,597. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. World Asset Management Inc purchased a new stake in shares of Regal Beloit during the second quarter worth about $205,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Regal Beloit in the second quarter worth approximately $216,000. Canandaigua National Bank & Trust Co. acquired a new stake in shares of Regal Beloit in the first quarter worth approximately $280,000. Regentatlantic Capital LLC boosted its position in shares of Regal Beloit by 22.9% in the second quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock worth $303,000 after acquiring an additional 690 shares during the last quarter. Finally, Balter Liquid Alternatives LLC acquired a new stake in shares of Regal Beloit in the second quarter worth approximately $356,000. Institutional investors and hedge funds own 93.07% of the company’s stock.

NYSE:RBC traded down $0.35 during mid-day trading on Wednesday, hitting $85.75. 471,348 shares of the company’s stock traded hands, compared to its average volume of 147,190. The company has a current ratio of 2.24, a quick ratio of 1.22 and a debt-to-equity ratio of 0.53. Regal Beloit has a 1 year low of $67.84 and a 1 year high of $86.75. The company has a market capitalization of $3.74 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.45 and a beta of 1.52.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.31%. Regal Beloit’s dividend payout ratio (DPR) is presently 23.00%.

About Regal Beloit

Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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