Regal Beloit (NYSE:RBC) had its target price trimmed by BMO Capital Markets to $83.00 in a research note released on Wednesday, The Fly reports. The brokerage currently has a market perform rating on the industrial products company’s stock.
RBC has been the subject of several other reports. Goldman Sachs Group initiated coverage on Regal Beloit in a report on Wednesday, October 3rd. They issued a buy rating and a $95.00 price objective for the company. Zacks Investment Research raised Regal Beloit from a hold rating to a buy rating and set a $92.00 price objective for the company in a report on Wednesday, August 8th. Finally, Royal Bank of Canada reissued a buy rating and issued a $90.00 price objective (down from $95.00) on shares of Regal Beloit in a report on Monday, November 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Regal Beloit presently has a consensus rating of Buy and an average price target of $89.13.
RBC traded down $0.21 on Wednesday, reaching $76.72. The company’s stock had a trading volume of 414,586 shares, compared to its average volume of 291,867. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.31 and a beta of 1.51. Regal Beloit has a fifty-two week low of $67.84 and a fifty-two week high of $86.75. The company has a quick ratio of 1.22, a current ratio of 2.61 and a debt-to-equity ratio of 0.54.
Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06. The business had revenue of $925.40 million during the quarter, compared to the consensus estimate of $924.18 million. Regal Beloit had a return on equity of 10.73% and a net margin of 6.34%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. On average, equities analysts anticipate that Regal Beloit will post 5.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 28th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, December 27th. Regal Beloit’s payout ratio is currently 23.00%.
Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Regal Beloit by 5.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,836,085 shares of the industrial products company’s stock worth $231,990,000 after purchasing an additional 152,885 shares during the period. LSV Asset Management lifted its holdings in shares of Regal Beloit by 15.9% during the third quarter. LSV Asset Management now owns 1,387,151 shares of the industrial products company’s stock worth $114,370,000 after purchasing an additional 190,206 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Regal Beloit by 8.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,382,986 shares of the industrial products company’s stock worth $114,027,000 after purchasing an additional 101,878 shares during the period. Northern Trust Corp lifted its holdings in shares of Regal Beloit by 6.8% during the second quarter. Northern Trust Corp now owns 655,724 shares of the industrial products company’s stock worth $53,639,000 after purchasing an additional 42,033 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Regal Beloit by 2.7% during the first quarter. Allianz Asset Management GmbH now owns 493,826 shares of the industrial products company’s stock worth $36,222,000 after purchasing an additional 12,924 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.
Regal Beloit Company Profile
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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