Brokerages forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will post $176.87 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $178.49 million and the lowest estimate coming in at $175.91 million. RBC Bearings reported sales of $166.86 million in the same quarter last year, which would suggest a positive year over year growth rate of 6%. The company is scheduled to report its next earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that RBC Bearings will report full-year sales of $722.39 million for the current financial year, with estimates ranging from $716.85 million to $730.21 million. For the next fiscal year, analysts forecast that the business will report sales of $804.84 million, with estimates ranging from $785.16 million to $828.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Friday, November 2nd. The industrial products company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $172.92 million during the quarter, compared to the consensus estimate of $174.30 million. RBC Bearings had a net margin of 15.54% and a return on equity of 12.94%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share.
A number of equities research analysts have recently commented on ROLL shares. BidaskClub upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Zacks Investment Research reiterated a “buy” rating and set a $182.00 price target on shares of RBC Bearings in a report on Thursday, November 15th. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America downgraded shares of RBC Bearings from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a report on Wednesday, November 14th. They noted that the move was a valuation call. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Thursday, September 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $155.00.
In other RBC Bearings news, insider Michael J. Hartnett sold 18,029 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $152.97, for a total transaction of $2,757,896.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan B. Levine sold 1,084 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $150.00, for a total transaction of $162,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,243 shares of company stock valued at $18,604,620. 3.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dorsey & Whitney Trust CO LLC purchased a new stake in RBC Bearings during the third quarter worth approximately $213,000. Confluence Investment Management LLC lifted its position in shares of RBC Bearings by 2.2% during the third quarter. Confluence Investment Management LLC now owns 26,474 shares of the industrial products company’s stock worth $3,980,000 after purchasing an additional 573 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of RBC Bearings by 7.6% during the second quarter. MetLife Investment Advisors LLC now owns 10,793 shares of the industrial products company’s stock worth $1,390,000 after purchasing an additional 758 shares in the last quarter. New England Asset Management Inc. acquired a new position in shares of RBC Bearings during the second quarter worth $458,000. Finally, Bank of New York Mellon Corp lifted its position in shares of RBC Bearings by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 174,454 shares of the industrial products company’s stock worth $22,472,000 after purchasing an additional 5,826 shares in the last quarter. Institutional investors own 97.17% of the company’s stock.
Shares of NASDAQ ROLL opened at $137.02 on Monday. The stock has a market cap of $3.39 billion, a PE ratio of 35.41, a PEG ratio of 4.84 and a beta of 1.38. RBC Bearings has a 12 month low of $111.61 and a 12 month high of $169.84. The company has a quick ratio of 2.13, a current ratio of 5.71 and a debt-to-equity ratio of 0.14.
RBC Bearings Company Profile
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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