RBC Capital Lowers Regal Beloit to Equal Weight (RBC)

By admin | 7 years ago

Regal Beloit (NYSE: RBC) was downgraded by RBC Capital (NYSE: RY) from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday.

Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities raised their price target on shares of Regal Beloit from $64.00 to $75.00 in a research note to investors on Wednesday, February 8th. They now have an “outperform” rating on the stock. Analysts at Jefferies Group (NYSE: JEF) reiterated a “buy” rating on shares of Regal Beloit in a research note to investors on Wednesday, February 8th.

Regal Beloit traded down 2.03% on Thursday, hitting $62.27. Regal Beloit has a 52-week low of $41.65 and a 52-week high of $73.86. The company has a market cap of $2.590 billion and a price-to-earnings ratio of 16.02.

The company last announced its quarterly results on Tuesday, May 1st. It reported $1.16 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.11 EPS by $0.05. The company’s quarterly revenue was up 21.9% on a year-over-year basis. Analysts expect that Regal Beloit will post $1.47 EPS next quarter.

Regal Beloit Corporation is a global manufacturer of electric motors and controls, electric generators and controls, and mechanical motion control products.

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