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RBC

Regal Beloit

$76.41

2.27 (3.06%)

07:06
11/04/19
11/04
07:06
11/04/19
07:06

Regal Beloit lowers FY19 adjusted EPS view 2.7% to $5.45-$5.55

Consensus is for FY19 EPS $5.52. Sees FY19 GAAP diluted EPS $5.85-$5.95. The difference between the GAAP diluted EPS and adjusted diluted EPS relates to expected restructuring and related costs of 34c per share, gain on businesses divested and assets to be exited of 70c per share, net income from businesses to be divested/exited of 8c per share, and CEO transition costs of 4c per share. The company added "We are increasing our free cash flow to adjusted net income guidance to over 115% for the year. For EPS, we are lowering our adjusted diluted EPS guidance to $5.45-$5.55, a reduction of 2.7% at the midpoint. We believe this reduction reflects current market conditions. We continue to accelerate cost-out activities focused on three main initiatives; 80/20 simplification efforts, plant consolidations, of which five have been announced, and product rationalization efforts, particularly in our Commercial and Industrial segment. This, along with growth plans that I have recently reviewed with our teams during the strategic planning process, are compelling value creation opportunities we have at Regal."

  • 04

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    Nov

RBC Regal Beloit
$76.41

2.27 (3.06%)

01/08/19
WOLF
01/08/19
DOWNGRADE
WOLF
Peer Perform
Regal Beloit downgraded to Peer Perform from Outperform at Wolfe Research
01/08/19
OPCO
01/08/19
DOWNGRADE
OPCO
Perform
Regal Beloit downgraded to Perform from Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Christopher Glynn downgraded Regal Beloit to Perform from Outperform due to relative devaluation of the group as material context for low headline multiples, against his view that the portfolios lack cyclical or strategic differentiation against the current backdrop. The analyst says he will keep a "watchful eye" on simplification benefits, but margin improvement at C&I has been slow, absorbing supply chain challenges, then inflation, while now, short-cycle macro trends could limit further organic growth. Glynn believes Regal Beloit organic typically concentrates in early cycle recovery, which tailwinds may be more mature than ahead
02/06/19
WELS
02/06/19
NO CHANGE
Target $85
WELS
Market Perform
Regal Beloit price target raised to $85 from $75 at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic raised her price target for Regal Beloit to $85 from $75 following quarterly results. The analyst reiterates a Market Perform rating on the shares.
10/07/19
SPHN
10/07/19
DOWNGRADE
Target $122
SPHN
Equal Weight
Stephens downgrades Ingersoll-Rand, cuts estimates for EE/MI group due to macro
As previously reported, Stephens analyst Rob McCarthy downgraded Ingersoll-Rand (IR) to Equal Weight from Overweight. McCarthy modestly trimmed his estimates for Ingersoll-Rand for FY19 and FY20, as he sees incremental concern for growth and sustainability of the HVAC cycle, and lowered his price target on the stock to $122, down from $124. He also lowered his estimates across the Electrical Equipment and Multi-Industry group due to the delaying of business capital expenditure decisions that has been caused by macro deceleration and geopolitical uncertainty. He also cut his adjusted EPS forecasts for Rockwell Automation (ROK) for FY19 and FY20, though he keeps an Overweight rating on the stock. Overall in the group, McCarthy said he is "particularly concerned" about A.O. Smith (AOS), Lennox (LII) and Regal Beloit (RBC), on which he has Equal Weight ratings.

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NAVB

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EFC

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