Regal Beloit Corp (RBC) reported quarterly earnings results on Monday, Aug-8-2016. The company reported $1.14 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $1.24. The company posted revenue of $838.60 million in the period, compared to analysts expectations of $854.65 million. The company’s revenue was down -11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.53 EPS.
Many Wall Street Analysts have commented on Regal Beloit Corp. Regal Beloit Corp was Downgraded by Morgan Stanley to ” Equal-Weight” on May 11, 2016. Shares were Reiterated by Wunderlich on May 11, 2016 to “Hold” and Lowered the Price Target to $ 62 from a previous price target of $67.50 .
Regal Beloit Corp opened for trading at $59.53 and hit $61.01 on the upside on Friday, eventually ending the session at $60.87, with a gain of 2.84% or 1.68 points. The heightened volatility saw the trading volume jump to 3,76,607 shares. Company has a market cap of $2,723 M.
In a different news, on Mar 2, 2016, John Avampato (VP & Chief Information Officer) sold 9,274 shares at $55.00 per share price. According to the SEC, on Dec 2, 2015, Curtis W Stoelting (director) sold 7,000 shares at $64.36 per share price. On May 26, 2015, Henry W Knueppel (director) sold 25,000 shares at $80.46 per share price, according to the Form-4 filing with the securities and exchange commission.
Regal Beloit Corporation is a global manufacturer electric motors and controls electric generators and controls and power transmission products. The Company operates through three segments: Commercial and Industrial Systems segment which designs manufactures and sells Fractional integral and large horsepower motors and controls electronic variable speed controls and blowers Solid state and electro-mechanical starters contactors relays variable frequency drives and motors artificial lift system pumping equipment Precision stator and rotor kits Hazardous duty motors and Electric generators; Climate Solutions segment which designs manufactures and sells Fractional motors electronic variable speed controls and blowers and Power Transmission Solutions segment which designs manufactures and markets enclosed gear drives gearmotors transmissions and custom open gearing used for motion control within complex equipment and systems.