Wunderlich Securities changed its estimates on Regal Beloit Corporation RBC Tuesday and maintained a Buy rating and $88 price target.
The report observed that "third quarter results reflect progress toward revenue growth with positive operating leverage."
Analyst Liam D. Burke noted that “concerns about the decline in C&I revenues, the longer than expected realization of cost synergies, and lower anticipated residential HVAC sales in the first half of 2015 have weighed on Regal's (RBC) shares.
“Despite near-term concerns, we would still expect organic sales growth with operating margin expansion in 2015.”
Regal reported EPS for the third quarter of $1.15, a 2.5 percent year-over-year decline. “EPS was $0.01 below our estimate of $1.16 and in-line with consensus, according to Burke.
The analyst report concluded by raising “adjusted EPS estimates for 2014 and 2015 to $4.37 and $4.97, respectively from $4.33 and $4.88, respectively.”
Regal Beloit Corporation recently traded at $70.20, up 0.27 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.