Wolfe Research initiated coverage on shares of Regal Beloit (NYSE:RBC) in a report issued on Wednesday, The Fly reports. The brokerage issued an outperform rating and a $97.00 price target on the industrial products company’s stock.
Separately, Zacks Investment Research lowered shares of Regal Beloit from a buy rating to a hold rating in a report on Wednesday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Regal Beloit has an average rating of Hold and an average target price of $86.83.
Regal Beloit opened at $80.55 on Wednesday, MarketBeat Ratings reports. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.36 and a beta of 1.46. Regal Beloit has a 12-month low of $67.84 and a 12-month high of $87.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.27 and a current ratio of 2.36.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, May 7th. The industrial products company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The business had revenue of $878.80 million for the quarter, compared to analyst estimates of $869.33 million. Regal Beloit had a net margin of 6.57% and a return on equity of 9.87%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. equities research analysts expect that Regal Beloit will post 5.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.28 dividend. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.12 annualized dividend and a yield of 1.39%. Regal Beloit’s dividend payout ratio (DPR) is presently 21.36%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allianz Asset Management GmbH raised its holdings in Regal Beloit by 2.7% in the first quarter. Allianz Asset Management GmbH now owns 493,826 shares of the industrial products company’s stock valued at $36,222,000 after buying an additional 12,924 shares during the period. CIBC World Markets Inc. purchased a new position in Regal Beloit in the first quarter valued at approximately $588,000. Xact Kapitalforvaltning AB raised its holdings in Regal Beloit by 80.0% in the first quarter. Xact Kapitalforvaltning AB now owns 8,323 shares of the industrial products company’s stock valued at $610,000 after buying an additional 3,700 shares during the period. Royal Bank of Canada raised its holdings in Regal Beloit by 5.3% in the first quarter. Royal Bank of Canada now owns 549,907 shares of the industrial products company’s stock valued at $40,335,000 after buying an additional 27,789 shares during the period. Finally, Legal & General Group Plc raised its holdings in Regal Beloit by 9.7% in the first quarter. Legal & General Group Plc now owns 69,922 shares of the industrial products company’s stock valued at $5,129,000 after buying an additional 6,160 shares during the period. Hedge funds and other institutional investors own 93.80% 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 power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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