Equities analysts predict that RBC Bearings Incorporated (NASDAQ:ROLL) will report $181.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for RBC Bearings’ earnings, with estimates ranging from $180.56 million to $181.90 million. RBC Bearings posted sales of $172.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The company is scheduled to announce its next earnings report on Friday, November 1st.
According to Zacks, analysts expect that RBC Bearings will report full year sales of $752.85 million for the current year, with estimates ranging from $746.86 million to $758.00 million. For the next financial year, analysts anticipate that the firm will report sales of $824.46 million, with estimates ranging from $806.10 million to $845.98 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.04. The firm had revenue of $182.69 million for the quarter, compared to analyst estimates of $183.13 million. RBC Bearings had a net margin of 15.26% and a return on equity of 12.82%. RBC Bearings’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS.
A number of research firms have recently weighed in on ROLL. ValuEngine lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. RBC Bearings presently has an average rating of “Hold” and an average price target of $161.33.
In other news, Director Thomas J. Obrien sold 1,800 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $152.25, for a total value of $274,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan B. Levine sold 1,250 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.00, for a total transaction of $203,750.00. The disclosure for this sale can be found here. Insiders sold 86,856 shares of company stock valued at $13,800,901 over the last 90 days. Insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ROLL. Invesco Ltd. boosted its stake in RBC Bearings by 3,153.1% during the 2nd quarter. Invesco Ltd. now owns 458,423 shares of the industrial products company’s stock valued at $76,470,000 after acquiring an additional 444,331 shares during the last quarter. Wasatch Advisors Inc. boosted its stake in RBC Bearings by 11.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,630,566 shares of the industrial products company’s stock valued at $271,995,000 after acquiring an additional 170,692 shares during the last quarter. Conestoga Capital Advisors LLC bought a new position in RBC Bearings during the 2nd quarter valued at $28,061,000. Nuveen Asset Management LLC bought a new position in RBC Bearings during the 2nd quarter valued at $16,361,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in RBC Bearings by 3.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,471,067 shares of the industrial products company’s stock valued at $412,200,000 after acquiring an additional 84,744 shares during the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.
ROLL stock traded up $3.67 during trading on Friday, reaching $159.89. 4,496 shares of the company were exchanged, compared to its average volume of 112,083. The company has a market cap of $3.81 billion, a P/E ratio of 33.27, a PEG ratio of 4.94 and a beta of 1.21. RBC Bearings has a 52-week low of $123.50 and a 52-week high of $171.54. The stock’s 50 day moving average price is $160.21 and its 200 day moving average price is $151.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.72 and a current ratio of 5.15.
About RBC Bearings
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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