Regal Beloit Corporation (NYSE:RBC) manufacturer of electronic machinery parts, is reporting third quarter earnings results on Wednesday 28th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.20 per share.
For the full year, analysts predict revenues of $ 2770.36 million, while looking forward to income of $ 4.68 per share.
The Company Outlook
Revenue for 3Q20 are expected in a range of $ 679.62 million ~ $ 710.52 million
Full Year 2020 bottomline are predicted in a range of $ 5.65 ~ $ 6.05 per share
Click Here For More Historical Outlooks Of Regal Beloit Corporation
Previous Quarter Performance
Regal Beloit Corporation communicated income for the second quarter of $ 0.95 per share, from the revenue of $ 634.10 million. The quarterly earnings contracted 37.50 percent while revenues fell 29.79 percent compared with the same quarter last year.
According to street consensus, RBC was expected to report 2Q20 income of $ 0.67 per share from revenue of $ 645.75 million. The bottom line results beat street analysts by $ 0.28 or 41.79 percent, at the same time, top line results fell short of analysts by $ 11.65 million or 1.8 percent.
Stock Performance
Shares of Regal Beloit Corporation traded low $ -2.32 or -2.40 percent on Tuesday, reaching $ 94.34 with volume of 158.60 thousand shares. Regal Beloit Corporation has traded high as $ 96.51 and has cracked $ 94.14 on the downward trend
According to the previous trading day, closing price of $ 94.34, representing a 85.92 % increase from the 52 week low of $ 51.99 and a 6.45 % decrease over the 52 week high of $ 103.32.
The company has a market capital of $ 3.83 billion and is part of the Industrials sector and Diversified Industrials industry.
Recent Analyst recommendations
- On 12th October 2020, maintained by KeyBanc at Overweight rating, with $ 110.00 target price.
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 three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions. The Commercial and Industrial Systems segment provides AC and DC motors, controls, fans and blowers, and integrated electronic control solutions for commercial and industrial applications.
