Regal Beloit Co. (NYSE:RBC) Expected to Announce Quarterly Sales of $810.15 Million

Equities research analysts forecast that Regal Beloit Co. (NYSE:RBC) will report $810.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Regal Beloit’s earnings, with estimates ranging from $785.78 million to $826.10 million. Regal Beloit reported sales of $634.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 27.8%. The business is expected to announce its next earnings results on Monday, August 2nd.

On average, analysts expect that Regal Beloit will report full-year sales of $3.18 billion for the current fiscal year, with estimates ranging from $3.10 billion to $3.22 billion. For the next year, analysts anticipate that the business will report sales of $3.66 billion, with estimates ranging from $3.33 billion to $4.64 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Regal Beloit.

Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Sunday, May 2nd. The industrial products company reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.30. The business had revenue of $814.10 million during the quarter, compared to the consensus estimate of $782.03 million. Regal Beloit had a net margin of 7.00% and a return on equity of 10.53%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share.

A number of research firms have recently commented on RBC. Seaport Global Securities restated a “buy” rating on shares of Regal Beloit in a research report on Tuesday, February 16th. Zacks Investment Research upgraded Regal Beloit from a “hold” rating to a “buy” rating and set a $141.00 price objective on the stock in a report on Monday, February 22nd. Robert W. Baird lifted their price target on shares of Regal Beloit from $167.00 to $176.00 in a research report on Thursday, March 18th. KeyCorp boosted their price target on shares of Regal Beloit from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 13th. Finally, Wells Fargo & Company increased their price objective on Regal Beloit from $110.00 to $145.00 in a research note on Wednesday, February 17th. Five research analysts have rated the stock with a buy rating, Regal Beloit has an average rating of “Buy” and an average price target of $145.00.

Shares of RBC traded down $1.15 during mid-day trading on Friday, reaching $137.08. The company had a trading volume of 226,160 shares, compared to its average volume of 292,856. The firm has a market capitalization of $5.57 billion, a PE ratio of 27.00, a P/E/G ratio of 1.83 and a beta of 1.33. Regal Beloit has a 52-week low of $78.22 and a 52-week high of $159.64. The company has a 50 day moving average price of $143.88. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.30.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Investors of record on Friday, July 2nd will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, July 1st. This is a boost from Regal Beloit’s previous quarterly dividend of $0.30. Regal Beloit’s dividend payout ratio (DPR) is currently 20.80%.

In other news, insider John C. Kunze sold 3,000 shares of the company’s stock in a transaction on Friday, May 14th. The shares were sold at an average price of $146.37, for a total value of $439,110.00. Following the completion of the transaction, the insider now directly owns 4,433 shares in the company, valued at $648,858.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Douglas Brown sold 5,084 shares of the firm’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $139.51, for a total value of $709,268.84. Following the sale, the insider now owns 5,320 shares of the company’s stock, valued at $742,193.20. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RBC. BlackRock Inc. raised its holdings in Regal Beloit by 4.4% during the 1st quarter. BlackRock Inc. now owns 3,511,061 shares of the industrial products company’s stock worth $500,958,000 after buying an additional 147,283 shares during the period. Alliancebernstein L.P. grew its position in Regal Beloit by 30.1% in the first quarter. Alliancebernstein L.P. now owns 2,879,160 shares of the industrial products company’s stock worth $410,799,000 after acquiring an additional 666,479 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Regal Beloit by 11.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,397,898 shares of the industrial products company’s stock valued at $199,453,000 after acquiring an additional 144,795 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Regal Beloit by 9.5% in the 1st quarter. Clearbridge Investments LLC now owns 763,394 shares of the industrial products company’s stock worth $108,921,000 after acquiring an additional 65,927 shares during the period. Finally, Boston Partners increased its position in Regal Beloit by 138.5% in the 1st quarter. Boston Partners now owns 671,780 shares of the industrial products company’s stock worth $95,865,000 after buying an additional 390,126 shares during the period. 94.94% of the stock is owned by institutional investors.

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 four segments: Commercial Systems, Industrial Systems, Climate Solutions, and Power Transmission Solutions.

See Also: Special Dividends

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

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