Zacks Investment Research upgraded shares of Regal Beloit (NYSE:RBC) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $85.00 price objective on the industrial products company’s stock.
According to Zacks, “Regal Beloit reported decent fourth-quarter 2017 results with adjusted earnings in line with the Zacks Consensus Estimate, on the back of modest organic growth and positive order trends. Over the years, the company has consolidated its product lines and streamlined product brands to evolve as a dynamic enterprise. In order to drive continuous improvement, Regal Beloit continues to focus on prudent investment decisions for a disciplined capital allocation, strong and flexible balance sheet position and cash flow enhancement to support dividend growth. Regal Beloit continues to focus on simplification initiatives to lower operating costs and improve margins in the future. The company expects organic growth for 2018 in low single digits with healthy demand trends. However, margin pressures, high concentration risks and adverse foreign currency translation remain headwinds. Regal Beloit has also underperformed the industry in the last three months.”
A number of other equities analysts have also recently commented on RBC. Royal Bank of Canada reissued a buy rating on shares of Regal Beloit in a research note on Monday, November 6th. BMO Capital Markets dropped their price objective on shares of Regal Beloit from $88.00 to $85.00 and set a market perform rating for the company in a research note on Tuesday, November 7th. ValuEngine cut shares of Regal Beloit from a buy rating to a hold rating in a research note on Wednesday, November 15th. Seaport Global Securities raised shares of Regal Beloit from a neutral rating to a buy rating and lifted their price objective for the stock from $82.00 to $88.00 in a research note on Wednesday, February 7th. Finally, Barrington Research reissued an outperform rating and issued a $87.00 price objective on shares of Regal Beloit in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $86.08.
Regal Beloit (RBC) opened at $74.70 on Tuesday. Regal Beloit has a 52 week low of $71.05 and a 52 week high of $87.50. The company has a market cap of $3,364.89, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 1.15, a current ratio of 2.21 and a debt-to-equity ratio of 0.44.
Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, February 5th. The industrial products company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The business had revenue of $820.70 million during the quarter, compared to analysts’ expectations of $794.65 million. During the same period last year, the company posted $1.04 EPS. The business’s revenue was up 8.3% on a year-over-year basis. sell-side analysts anticipate that Regal Beloit will post 5.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. Regal Beloit’s dividend payout ratio (DPR) is presently 21.94%.
Several institutional investors have recently added to or reduced their stakes in RBC. State Street Corp lifted its holdings in shares of Regal Beloit by 2.2% in the 2nd quarter. State Street Corp now owns 1,163,293 shares of the industrial products company’s stock worth $94,869,000 after acquiring an additional 24,844 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Regal Beloit in the 2nd quarter worth about $468,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Regal Beloit by 1.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,409 shares of the industrial products company’s stock worth $1,094,000 after acquiring an additional 206 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Regal Beloit in the 2nd quarter worth about $587,000. Finally, Profit Investment Management LLC lifted its holdings in Regal Beloit by 64.0% during the 3rd quarter. Profit Investment Management LLC now owns 21,104 shares of the industrial products company’s stock valued at $1,667,000 after buying an additional 8,234 shares in the last quarter. Hedge funds and other institutional investors own 94.75% of the company’s stock.
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Regal Beloit 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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