Analysts Anticipate Regal Beloit Corp (NYSE:RBC) Will Announce Quarterly Sales of $914.95 Million

Wall Street brokerages forecast that Regal Beloit Corp (NYSE:RBC) will post $914.95 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Regal Beloit’s earnings, with estimates ranging from $902.10 million to $927.00 million. Regal Beloit posted sales of $959.70 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The company is scheduled to announce its next earnings report on Monday, August 5th.

On average, analysts expect that Regal Beloit will report full-year sales of $3.52 billion for the current financial year, with estimates ranging from $3.49 billion to $3.56 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.61 billion, with estimates ranging from $3.54 billion to $3.68 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Regal Beloit.

Regal Beloit (NYSE:RBC) last issued its quarterly earnings data on Monday, May 6th. The industrial products company reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.02. Regal Beloit had a return on equity of 11.24% and a net margin of 7.15%. The company had revenue of $853.80 million during the quarter, compared to analyst estimates of $882.61 million. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Regal Beloit’s revenue was down 2.8% on a year-over-year basis.

Several brokerages have recently commented on RBC. Zacks Investment Research raised Regal Beloit from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a report on Monday, June 10th. BMO Capital Markets cut their price objective on Regal Beloit from $95.00 to $93.00 and set a “market perform” rating for the company in a report on Wednesday, May 8th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Regal Beloit in a research note on Tuesday, May 7th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $90.33.

Shares of NYSE RBC traded down $1.21 during midday trading on Tuesday, hitting $79.50. 277,967 shares of the company’s stock were exchanged, compared to its average volume of 226,731. Regal Beloit has a 12-month low of $66.04 and a 12-month high of $87.31. The company has a current ratio of 2.71, a quick ratio of 1.53 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.25 and a beta of 1.59.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a $0.30 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.20 annualized dividend and a yield of 1.51%. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.28. Regal Beloit’s dividend payout ratio is currently 18.67%.

A number of institutional investors and hedge funds have recently modified their holdings of RBC. Keeley Teton Advisors LLC boosted its stake in shares of Regal Beloit by 0.6% during the first quarter. Keeley Teton Advisors LLC now owns 19,875 shares of the industrial products company’s stock valued at $1,627,000 after purchasing an additional 120 shares during the period. Utah Retirement Systems boosted its stake in shares of Regal Beloit by 1.6% during the first quarter. Utah Retirement Systems now owns 8,126 shares of the industrial products company’s stock valued at $665,000 after purchasing an additional 131 shares during the period. Synovus Financial Corp boosted its stake in shares of Regal Beloit by 2.9% during the first quarter. Synovus Financial Corp now owns 5,215 shares of the industrial products company’s stock valued at $431,000 after purchasing an additional 149 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Regal Beloit by 0.7% during the first quarter. Mason Street Advisors LLC now owns 22,753 shares of the industrial products company’s stock valued at $1,863,000 after purchasing an additional 155 shares during the period. Finally, Twin Capital Management Inc. boosted its stake in shares of Regal Beloit by 0.3% during the first quarter. Twin Capital Management Inc. now owns 54,720 shares of the industrial products company’s stock valued at $4,480,000 after purchasing an additional 180 shares during the period. 91.57% 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 transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.

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Earnings History and Estimates for Regal Beloit (NYSE:RBC)

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