Regal Beloit Corporation (NYSE:RBC) had its target price decreased by BMO Capital Markets from $88.00 to $85.00 in a research note released on Tuesday morning. BMO Capital Markets currently has a market perform rating on the industrial products company’s stock.
Several other brokerages also recently commented on RBC. BidaskClub downgraded Regal Beloit Corporation from a buy rating to a hold rating in a research note on Tuesday, July 25th. Stifel Nicolaus reiterated a hold rating and set a $85.00 target price on shares of Regal Beloit Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a hold rating and set a $80.00 target price on shares of Regal Beloit Corporation in a research note on Friday, July 14th. Wolfe Research began coverage on Regal Beloit Corporation in a research note on Tuesday, July 11th. They set a market perform rating for the company. Finally, Royal Bank Of Canada reiterated a buy rating on shares of Regal Beloit Corporation in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $86.14.
Shares of Regal Beloit Corporation (NYSE RBC) traded up $0.40 during midday trading on Tuesday, hitting $77.35. The stock had a trading volume of 342,400 shares, compared to its average volume of 249,550. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 1.29. Regal Beloit Corporation has a one year low of $66.55 and a one year high of $87.50. The company has a market cap of $3,409.19, a P/E ratio of 16.13, a P/E/G ratio of 1.44 and a beta of 1.50.
Regal Beloit Corporation (NYSE:RBC) last issued its earnings results on Monday, November 6th. The industrial products company reported $1.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.01). Regal Beloit Corporation had a return on equity of 9.76% and a net margin of 6.28%. The business had revenue of $857.00 million for the quarter, compared to the consensus estimate of $837.19 million. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. equities analysts predict that Regal Beloit Corporation will post 4.87 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.04 annualized dividend and a yield of 1.34%. Regal Beloit Corporation’s payout ratio is currently 22.61%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Synovus Financial Corp raised its holdings in Regal Beloit Corporation by 4.4% in the 2nd quarter. Synovus Financial Corp now owns 2,607 shares of the industrial products company’s stock valued at $209,000 after acquiring an additional 110 shares in the last quarter. Airain ltd acquired a new position in Regal Beloit Corporation in the 2nd quarter valued at $224,000. Fox Run Management L.L.C. acquired a new position in Regal Beloit Corporation in the 2nd quarter valued at $236,000. M&T Bank Corp acquired a new position in Regal Beloit Corporation in the 2nd quarter valued at $237,000. Finally, Bridgewater Associates LP acquired a new position in Regal Beloit Corporation in the 2nd quarter valued at $248,000. 92.24% of the stock is owned by hedge funds and other institutional investors.
Regal Beloit Corporation Company Profile
Regal Beloit Corporation is a manufacturer of electric motors, electrical motion controls, power generation and power transmission products. The Company operates through three segments: the Commercial and Industrial Systems segment, with its principal line of business in medium and large electric motors, power generation products, high-performance drives and controls and capacitors; the Climate Solutions segment, with its principal line of business in small motors, controls and air moving products, and the Power Transmission Solutions segment, with its principal line of business in power transmission gearing, hydraulic pump drives, open gearing and specialty mechanical products which control motion and torque.
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