Regal Beloit price target raised to $150 from $125 at Barclays » 06:2811/3011/30/20
Barclays analyst Julian…
Barclays analyst Julian Mitchell raised the firm's price target on Regal Beloit to $150 from $125 and keeps an Overweight rating on the shares.
|Over a week ago|
ABB unit draws interest from industry suitors, Reuters reports » 14:4011/1911/19/20
ABB, TKR, RBC, RXN
ABB's (ABB) clutch…
ABB's (ABB) clutch and transmission manufacturer Dodge has already drawn interest from potential suitors before the Swiss engineering group said it was exiting the business, Reuters' Arno Schuetze and John Revill report, citing people familiar with the matter. Dodge is one of three units put up for sale, along with ABB's power conversion and turbocharger divisions, the authors note. Sever industry peers considered buying Dodge before it was formerly put on the selling block, and are anticipated to be in the running when ABB begins its auction in early 2021, the authors say, citing the sources. The unit has drawn interest from Timken (TKR), Regal Beloit (RBC), and Rexnord (RXN), the authors note. Reference Link
Regal Beloit price target raised to $130 from $115 at KeyBanc » 07:4911/1811/18/20
KeyBanc analyst Jeffrey…
KeyBanc analyst Jeffrey Hammond raised the firm's price target on Regal Beloit to $130 from $115 and keeps an Overweight rating on the shares. Despite the "value" rotation to-date, the analyst continues to see runway for his cyclical and commercial foodservice names.
|Over a month ago|
Regal Beloit reports Q3 normalized FFO 84c, consensus 81c » 17:0610/2810/28/20
Reports Q3 revenue…
Reports Q3 revenue $1.04B, consensus $1.07B. Month-to-date, through October 23, 2020, total SHO portfolio occupancy declined by approximately 30 basis points through October 23, 2020.
Regal Beloit sees FY20 adjusted EPS $5.45-$5.65, consensus $4.68 17:0210/2810/28/20
Regal Beloit sees Q4 adjusted EPS $1.46-$1.66, consensus $1.23 17:0110/2810/28/20
Regal Beloit reports Q3 adjusted EPS $1.73, consensus $1.20 » 16:5910/2810/28/20
Reports Q3 revenue…
Reports Q3 revenue $758.2M, consensus $704.21M. CEO Louis Pinkham commented, "Despite facing ongoing personal and professional challenges related to COVID, our Regal associates continued to execute a range of restructuring actions, and drive 80/20 deeper into our organization, resulting in significant operating income growth, margin expansion, and FCF generation - even as the top line faced COVID-related declines. (...) As I look across our segments, it's also encouraging to see more bright spots than in recent quarters, with two of our four segments - Climate and Commercial - returning to positive sales growth during the quarter, Industrial close to flat, and PTS significantly narrowing its rate of decline. The order story is also brighter, with growth rates turning positive in the quarter, and a recovery in the key N.A. general industrial market in PTS still to come. Notably, our N.A. residential HVAC business saw its orders rise almost 30% in September, with October up over 20%. I remain incredibly proud of how our Regal associates continue to execute, with a sense of urgency, to best serve our customers, improve profitability, sustain healthy FCF, and pursue strategic growth opportunities - many tied to improving safety and energy efficiency".
Regal Beloit price target raised to $110 from $100 at KeyBanc » 07:0410/1210/12/20
KeyBanc analyst Jeffrey…
KeyBanc analyst Jeffrey Hammond raised the firm's price target on Regal Beloit to $110 from $100 and keeps an Overweight rating on the shares. Based on channel feedback, the analyst believes Residential HVAC momentum sustained through Q3, with both channel restocking and healthy end demand contributing. Tactically, given timing dynamics around the initial inflection, in which the sell-in versus sell-through lag wrapped around Q2/Q3, Hammond expects OEMs with less company-owned distribution to outperform those with heavier footprints.
|Over a quarter ago|
Regal Beloit price target raised to $95 from $80 at Wells Fargo » 08:3508/0508/05/20
Wells Fargo analyst…
Wells Fargo analyst Allison Poliniak-Cusic raised the firm's price target on Regal Beloit to $95 from $80 and keeps an Equal Weight rating on the shares. The analyst notes that RBC reported a solid earnings "beat," largely on the back of better operating execution at the margin.
Regal Beloit sees Q3 sales down 8%-12% y/y, consensus $665.86M » 16:2908/0308/03/20
For the third quarter of…
For the third quarter of 2020, the company expects its net sales to decline between 8%-12% compared to the prior year, and for deleverage on net sales to fall in a range of 12-18%. This framework reflects the company's cost initiatives, current backlog, July results, and estimated demand levels over the next two months, and does not take into consideration any significant changes in the global spread of, and government reactions to COVID-19. In light of continued uncertainty created by the COVID-19 pandemic, in particular as it relates to the demand environment for the company's products, combined with the inherently short-cycle nature of its business, which results in limited backlog, the company feels it is not currently in a position to provide useful forward looking commentary beyond the third quarter.