Zacks: Analysts Anticipate Regal Beloit Co. (NYSE:RBC) Will Post Quarterly Sales of $810.15 Million

Brokerages predict that Regal Beloit Co. (NYSE:RBC) will post $810.15 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Regal Beloit’s earnings. The lowest sales estimate is $785.78 million and the highest is $826.10 million. Regal Beloit posted sales of $634.10 million during the same quarter last year, which suggests a positive year over year growth rate of 27.8%. The company is expected to announce its next earnings report on Monday, August 2nd.

On average, analysts expect that Regal Beloit will report full year sales of $3.18 billion for the current year, with estimates ranging from $3.10 billion to $3.22 billion. For the next financial year, analysts forecast that the firm will report sales of $3.66 billion, with estimates ranging from $3.33 billion to $4.64 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Regal Beloit.

Regal Beloit (NYSE:RBC) last released its quarterly earnings results on Sunday, May 2nd. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.30. The business had revenue of $814.10 million for the quarter, compared to the consensus estimate of $782.03 million. Regal Beloit had a net margin of 7.00% and a return on equity of 10.53%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS.

Several research firms have recently weighed in on RBC. KeyCorp boosted their target price on Regal Beloit from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, April 13th. Wells Fargo & Company boosted their target price on Regal Beloit from $110.00 to $145.00 in a research report on Wednesday, February 17th. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a report on Monday, February 22nd. Seaport Global Securities reissued a “buy” rating on shares of Regal Beloit in a research report on Tuesday, February 16th. Finally, Robert W. Baird lifted their price objective on Regal Beloit from $167.00 to $176.00 in a research report on Thursday, March 18th. Five equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $145.00.

RBC traded down $1.15 on Friday, hitting $137.08. 226,160 shares of the company were exchanged, compared to its average volume of 292,856. Regal Beloit has a twelve month low of $78.22 and a twelve month high of $159.64. The stock has a market capitalization of $5.57 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $143.88.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Investors of record on Friday, July 2nd will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, July 1st. This is an increase from Regal Beloit’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 0.96%. Regal Beloit’s dividend payout ratio (DPR) is currently 20.80%.

In other Regal Beloit news, insider John C. Kunze sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $146.37, for a total value of $439,110.00. Following the completion of the sale, the insider now directly owns 4,433 shares of the company’s stock, valued at $648,858.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Douglas Brown sold 5,084 shares of Regal Beloit stock in a transaction dated Tuesday, May 25th. The stock was sold at an average price of $139.51, for a total value of $709,268.84. Following the completion of the transaction, the insider now owns 5,320 shares in the company, valued at $742,193.20. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners acquired a new position in shares of Regal Beloit in the 4th quarter worth approximately $34,591,000. Bank of New York Mellon Corp lifted its stake in Regal Beloit by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 479,806 shares of the industrial products company’s stock valued at $58,924,000 after acquiring an additional 13,914 shares in the last quarter. Kennedy Capital Management Inc. lifted its stake in Regal Beloit by 20.9% in the 4th quarter. Kennedy Capital Management Inc. now owns 183,525 shares of the industrial products company’s stock valued at $22,539,000 after acquiring an additional 31,697 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Regal Beloit during the 4th quarter worth approximately $1,594,000. Finally, Symmetry Partners LLC increased its position in shares of Regal Beloit by 3.6% during the 4th quarter. Symmetry Partners LLC now owns 4,667 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.

Featured Story: Bear Market

Get a free copy of the Zacks research report on Regal Beloit (RBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Regal Beloit (NYSE:RBC)

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.