Brokerages Expect Regal Beloit (RBC) Will Announce Quarterly Sales of $867.19 Million

Analysts expect that Regal Beloit (NYSE:RBC) will announce sales of $867.19 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Regal Beloit’s earnings. The highest sales estimate is $881.20 million and the lowest is $855.00 million. Regal Beloit posted sales of $813.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, May 7th.

On average, analysts expect that Regal Beloit will report full year sales of $3.51 billion for the current financial year, with estimates ranging from $3.47 billion to $3.53 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.62 billion per share, with estimates ranging from $3.56 billion to $3.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Regal Beloit.

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Regal Beloit (NYSE:RBC) last posted its earnings results on Monday, February 5th. The industrial products company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The firm had revenue of $820.70 million during the quarter, compared to the consensus estimate of $794.65 million. Regal Beloit had a net margin of 6.34% and a return on equity of 9.64%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.04 EPS.

A number of brokerages recently commented on RBC. Zacks Investment Research upgraded shares of Regal Beloit from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, February 13th. Barclays assumed coverage on shares of Regal Beloit in a report on Thursday, February 15th. They set an “equal weight” rating and a $80.00 price target for the company. Barrington Research reissued an “outperform” rating and set a $87.00 price target on shares of Regal Beloit in a report on Monday, February 12th. Seaport Global Securities upgraded shares of Regal Beloit from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $88.00 in a research report on Wednesday, February 7th. Finally, ValuEngine lowered shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $86.08.

Several institutional investors have recently added to or reduced their stakes in RBC. Schwab Charles Investment Management Inc. grew its position in Regal Beloit by 6.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 297,993 shares of the industrial products company’s stock valued at $22,827,000 after purchasing an additional 18,088 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in Regal Beloit by 33.6% in the 4th quarter. Meadow Creek Investment Management LLC now owns 36,036 shares of the industrial products company’s stock valued at $2,761,000 after buying an additional 9,072 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Regal Beloit by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 500,585 shares of the industrial products company’s stock valued at $38,345,000 after buying an additional 9,056 shares during the period. Lazard Asset Management LLC increased its holdings in Regal Beloit by 14.1% in the 4th quarter. Lazard Asset Management LLC now owns 176,140 shares of the industrial products company’s stock valued at $13,492,000 after buying an additional 21,730 shares during the period. Finally, First Trust Advisors LP increased its holdings in Regal Beloit by 6.0% in the 4th quarter. First Trust Advisors LP now owns 399,027 shares of the industrial products company’s stock valued at $30,565,000 after buying an additional 22,612 shares during the period. 96.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RBC remained flat at $$74.70 during trading on Monday. 104,481 shares of the company’s stock traded hands, compared to its average volume of 326,263. The company has a current ratio of 2.21, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $3,299.54, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38. Regal Beloit has a fifty-two week low of $67.84 and a fifty-two week high of $87.50.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Thursday, March 29th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. Regal Beloit’s dividend payout ratio is currently 21.36%.

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

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