Brokerages Expect Regal Beloit Co. (NYSE:RBC) Will Post Quarterly Sales of $791.89 Million


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Wall Street brokerages forecast that Regal Beloit Co. (NYSE:RBC) will announce $791.89 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Regal Beloit’s earnings, with the lowest sales estimate coming in at $785.78 million and the highest estimate coming in at $798.00 million. Regal Beloit posted sales of $634.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.9%. The company is scheduled to issue its next quarterly earnings report on Monday, August 2nd.

On average, analysts expect that Regal Beloit will report full year sales of $3.12 billion for the current year, with estimates ranging from $3.10 billion to $3.13 billion. For the next year, analysts forecast that the business will post sales of $3.72 billion, with estimates ranging from $3.25 billion to $4.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Regal Beloit.

Regal Beloit (NYSE:RBC) last released its quarterly earnings results on Sunday, May 2nd. The industrial products company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.30. Regal Beloit had a return on equity of 9.03% and a net margin of 6.13%. The company had revenue of $814.10 million during the quarter, compared to analysts’ expectations of $782.03 million. During the same period last year, the business posted $1.31 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year.

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Regal Beloit from $110.00 to $145.00 in a research report on Wednesday, February 17th. Robert W. Baird increased their price target on Regal Beloit from $167.00 to $176.00 in a report on Thursday, March 18th. Zacks Investment Research raised Regal Beloit from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a research note on Monday, February 22nd. Seaport Global Securities reaffirmed a “buy” rating on shares of Regal Beloit in a research note on Tuesday, February 16th. Finally, KeyCorp boosted their price target on shares of Regal Beloit from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, April 19th. Seven equities research analysts have rated the stock with a buy rating, Regal Beloit currently has a consensus rating of “Buy” and a consensus target price of $145.00.

A number of institutional investors have recently bought and sold shares of RBC. Morgan Stanley increased its stake in Regal Beloit by 95.1% during the 3rd quarter. Morgan Stanley now owns 17,299 shares of the industrial products company’s stock worth $1,624,000 after buying an additional 8,434 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Regal Beloit by 23.6% in the third quarter. Great West Life Assurance Co. Can now owns 25,828 shares of the industrial products company’s stock valued at $2,425,000 after purchasing an additional 4,934 shares during the period. Brinker Capital Investments LLC acquired a new position in Regal Beloit during the 3rd quarter worth $612,000. Strs Ohio increased its holdings in Regal Beloit by 14.3% during the 3rd quarter. Strs Ohio now owns 21,257 shares of the industrial products company’s stock worth $1,995,000 after purchasing an additional 2,659 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Regal Beloit by 38.2% in the 4th quarter. State of Alaska Department of Revenue now owns 23,104 shares of the industrial products company’s stock valued at $2,837,000 after purchasing an additional 6,384 shares in the last quarter. Hedge funds and other institutional investors own 93.08% of the company’s stock.

Shares of NYSE RBC traded up $0.03 during trading on Thursday, reaching $144.77. 413,820 shares of the company traded hands, compared to its average volume of 318,968. Regal Beloit has a 12-month low of $63.44 and a 12-month high of $159.64. The stock has a market cap of $5.88 billion, a P/E ratio of 33.66, a PEG ratio of 2.06 and a beta of 1.38. The firm’s fifty day simple moving average is $146.57 and its 200 day simple moving average is $129.06. The company has a current ratio of 2.11, a quick ratio of 1.29 and a debt-to-equity ratio of 0.34.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 16th. Shareholders of record on Friday, July 2nd will be given a $0.33 dividend. The ex-dividend date is Thursday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 0.91%. This is a boost from Regal Beloit’s previous quarterly dividend of $0.30. Regal Beloit’s dividend payout ratio is presently 21.86%.

Regal Beloit Company Profile

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 four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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