Regal Beloit Corp (RBC) Expected to Announce Quarterly Sales of $929.99 Million

Equities research analysts forecast that Regal Beloit Corp (NYSE:RBC) will post sales of $929.99 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Regal Beloit’s earnings, with the lowest sales estimate coming in at $921.90 million and the highest estimate coming in at $945.00 million. Regal Beloit reported sales of $856.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.5%. The business is scheduled to issue its next earnings report on Monday, November 5th.

On average, analysts expect that Regal Beloit will report full year sales of $3.65 billion for the current year, with estimates ranging from $3.63 billion to $3.67 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.80 billion, with estimates ranging from $3.77 billion to $3.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.01. The company had revenue of $959.70 million for the quarter, compared to analysts’ expectations of $953.65 million. Regal Beloit had a return on equity of 10.30% and a net margin of 6.77%. Regal Beloit’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share.

Several research firms recently issued reports on RBC. Zacks Investment Research cut Regal Beloit from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. Goldman Sachs Group began coverage on Regal Beloit in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $95.00 target price on the stock. BMO Capital Markets raised their target price on Regal Beloit from $89.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 8th. Finally, Wolfe Research began coverage on Regal Beloit in a research note on Wednesday, June 27th. They issued an “outperform” rating and a $97.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $90.25.

Shares of NYSE RBC traded down $0.59 during trading hours on Friday, hitting $76.45. The company’s stock had a trading volume of 415,848 shares, compared to its average volume of 265,813. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.24 and a quick ratio of 1.22. The stock has a market capitalization of $3.58 billion, a PE ratio of 15.70, a PEG ratio of 1.39 and a beta of 1.50. Regal Beloit has a 12 month low of $67.84 and a 12 month high of $86.75.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.12 annualized dividend and a yield of 1.47%. Regal Beloit’s payout ratio is 23.00%.

In other Regal Beloit news, Director Christopher L. Doerr sold 6,085 shares of Regal Beloit stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $81.43, for a total transaction of $495,501.55. Following the sale, the director now directly owns 17,900 shares of the company’s stock, valued at approximately $1,457,597. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of RBC. World Asset Management Inc bought a new stake in Regal Beloit during the 2nd quarter valued at approximately $205,000. Robeco Institutional Asset Management B.V. bought a new stake in Regal Beloit during the 2nd quarter valued at approximately $216,000. Regentatlantic Capital LLC boosted its position in Regal Beloit by 22.9% during the 2nd quarter. Regentatlantic Capital LLC now owns 3,705 shares of the industrial products company’s stock valued at $303,000 after acquiring an additional 690 shares in the last quarter. Balter Liquid Alternatives LLC bought a new stake in Regal Beloit during the 2nd quarter valued at approximately $356,000. Finally, Koch Industries Inc. boosted its position in Regal Beloit by 69.3% during the 1st quarter. Koch Industries Inc. now owns 5,189 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 2,124 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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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