Analysts expect that RBC Bearings Incorporated (NASDAQ:ROLL) will report earnings of $0.86 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for RBC Bearings’ earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.87. RBC Bearings posted earnings per share of $0.73 in the same quarter last year, which suggests a positive year over year growth rate of 17.8%. The firm is scheduled to report its next earnings results on Wednesday, February 14th.
On average, analysts expect that RBC Bearings will report full year earnings of $3.74 per share for the current year, with EPS estimates ranging from $3.66 to $3.80. For the next fiscal year, analysts expect that the firm will post earnings of $4.41 per share, with EPS estimates ranging from $4.10 to $4.67. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 3rd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. During the same quarter in the previous year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis.
Several equities analysts have recently issued reports on ROLL shares. Zacks Investment Research lowered RBC Bearings from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. CL King initiated coverage on RBC Bearings in a research report on Wednesday, November 29th. They set a “buy” rating and a $142.00 price objective on the stock. Bank of America boosted their price objective on RBC Bearings from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. ValuEngine lowered RBC Bearings from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Drexel Hamilton initiated coverage on RBC Bearings in a research report on Thursday, December 21st. They set a “buy” rating and a $140.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. RBC Bearings presently has an average rating of “Buy” and a consensus target price of $141.50.
Shares of RBC Bearings (NASDAQ:ROLL) traded down $1.24 on Friday, hitting $127.14. The stock had a trading volume of 67,579 shares, compared to its average volume of 86,133. RBC Bearings has a one year low of $88.70 and a one year high of $139.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. The company has a market cap of $3,080.00, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 6.00 and a beta of 1.35.
In other RBC Bearings news, insider Michael J. Hartnett sold 500 shares of RBC Bearings stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $128.00, for a total transaction of $64,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas C. Crainer sold 15,000 shares of RBC Bearings stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total value of $1,811,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock worth $4,632,657 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. lifted its holdings in RBC Bearings by 4.9% during the 2nd quarter. Prudential Financial Inc. now owns 2,638 shares of the industrial products company’s stock worth $268,000 after buying an additional 124 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in RBC Bearings by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,650 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 146 shares during the period. Legal & General Group Plc lifted its holdings in RBC Bearings by 1.9% during the 2nd quarter. Legal & General Group Plc now owns 8,312 shares of the industrial products company’s stock worth $845,000 after buying an additional 153 shares during the period. Amalgamated Bank lifted its holdings in RBC Bearings by 6.7% during the 2nd quarter. Amalgamated Bank now owns 2,965 shares of the industrial products company’s stock worth $302,000 after buying an additional 185 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in RBC Bearings by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,024 shares of the industrial products company’s stock worth $206,000 after buying an additional 302 shares during the period. 98.81% of the stock is currently owned by hedge funds and other 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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