Brokerages forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will announce sales of $162.97 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for RBC Bearings’ earnings, with estimates ranging from $162.20 million to $163.74 million. RBC Bearings reported sales of $146.66 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that RBC Bearings will report full year sales of $162.97 million for the current financial year, with estimates ranging from $664.50 million to $676.78 million. For the next fiscal year, analysts forecast that the company will post sales of $729.25 million per share, with estimates ranging from $717.70 million to $740.79 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.02). RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. The firm had revenue of $164.30 million for the quarter, compared to analyst estimates of $164.56 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Tuesday, September 26th. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. BidaskClub downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. CL King assumed coverage on shares of RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $140.75.
Shares of RBC Bearings (NASDAQ ROLL) traded up $3.37 on Monday, reaching $129.64. 107,600 shares of the company were exchanged, compared to its average volume of 87,023. RBC Bearings has a 52-week low of $88.70 and a 52-week high of $139.95. The stock has a market capitalization of $3,143.15, a P/E ratio of 43.95, a PEG ratio of 6.00 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 4.68 and a quick ratio of 1.64.
In other RBC Bearings news, insider Michael J. Hartnett sold 1,687 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total value of $216,408.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Hartnett sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $128.79, for a total transaction of $450,765.00. The disclosure for this sale can be found here. Insiders have sold 37,487 shares of company stock worth $4,632,657 over the last ninety days. 3.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of ROLL. SG Americas Securities LLC bought a new stake in shares of RBC Bearings during the 3rd quarter worth $189,000. Comerica Bank bought a new stake in shares of RBC Bearings during the 3rd quarter worth $230,000. Parametrica Management Ltd bought a new stake in shares of RBC Bearings during the 3rd quarter worth $238,000. Strs Ohio boosted its holdings in shares of RBC Bearings by 58.3% during the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock worth $237,000 after buying an additional 700 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of RBC Bearings during the 3rd quarter worth $251,000. 98.81% of the stock is owned by institutional investors.
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About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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