Regal Beloit (RBC) Cut to Market Perform at Oppenheimer

Oppenheimer cut shares of Regal Beloit (NYSE:RBC) from an outperform rating to a market perform rating in a report published on Tuesday morning. Oppenheimer also issued estimates for Regal Beloit’s Q1 2019 earnings at $1.46 EPS, Q2 2019 earnings at $1.76 EPS, Q3 2019 earnings at $1.70 EPS, Q4 2019 earnings at $1.39 EPS, FY2019 earnings at $6.30 EPS and FY2020 earnings at $6.85 EPS.

A number of other analysts also recently issued reports on RBC. Zacks Investment Research downgraded shares of Regal Beloit from a buy rating to a hold rating in a report on Friday, October 5th. Royal Bank of Canada downgraded shares of Regal Beloit from an outperform rating to a market perform rating in a report on Tuesday. Wolfe Research downgraded shares of Regal Beloit from an outperform rating to a market perform rating in a report on Tuesday. BMO Capital Markets dropped their price objective on shares of Regal Beloit to $83.00 and set a market perform rating for the company in a report on Wednesday, November 7th. Finally, Goldman Sachs Group assumed coverage on shares of Regal Beloit in a report on Wednesday, October 3rd. They set a buy rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Regal Beloit currently has a consensus rating of Hold and an average price target of $89.13.

Shares of NYSE:RBC opened at $71.63 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 2.61 and a debt-to-equity ratio of 0.54. Regal Beloit has a one year low of $66.04 and a one year high of $86.75. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.10 and a beta of 1.47.



Regal Beloit (NYSE:RBC) last posted its quarterly earnings data on Monday, November 5th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.06. Regal Beloit had a net margin of 6.34% and a return on equity of 10.73%. The company had revenue of $925.40 million during the quarter, compared to the consensus estimate of $924.18 million. During the same period in the previous year, the firm posted $1.39 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that Regal Beloit will post 5.91 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Friday, December 28th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, December 27th. Regal Beloit’s dividend payout ratio is presently 23.00%.

Hedge funds have recently added to or reduced their stakes in the business. First Hawaiian Bank purchased a new position in shares of Regal Beloit in the third quarter valued at about $169,000. C M Bidwell & Associates Ltd. increased its position in shares of Regal Beloit by 150.5% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,305 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 1,385 shares during the period. Ifrah Financial Services Inc. purchased a new position in shares of Regal Beloit in the third quarter valued at about $207,000. Virtu Financial LLC purchased a new position in shares of Regal Beloit in the third quarter valued at about $213,000. Finally, Stevens Capital Management LP purchased a new position in shares of Regal Beloit in the third quarter valued at about $233,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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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Analyst Recommendations for Regal Beloit (NYSE:RBC)

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