Analysts forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will report sales of $183.32 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for RBC Bearings’ earnings. The highest sales estimate is $183.70 million and the lowest is $183.05 million. RBC Bearings reported sales of $175.99 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The business is scheduled to report its next earnings report on Thursday, August 1st.
On average, analysts expect that RBC Bearings will report full-year sales of $765.18 million for the current year, with estimates ranging from $755.80 million to $780.00 million. For the next financial year, analysts anticipate that the firm will report sales of $835.10 million, with estimates ranging from $812.50 million to $860.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last issued its earnings results on Thursday, May 23rd. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. The company had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $180.76 million. During the same period last year, the business earned $1.08 EPS. RBC Bearings’s quarterly revenue was up 1.3% compared to the same quarter last year.
A number of brokerages recently issued reports on ROLL. BidaskClub upgraded RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Zacks Investment Research cut RBC Bearings from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a report on Friday, May 24th. SunTrust Banks increased their target price on RBC Bearings to $137.00 and gave the stock a “hold” rating in a report on Friday, May 24th. Finally, ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $161.33.
In related news, CEO Michael J. Hartnett sold 2,201 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $150.55, for a total value of $331,360.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Obrien sold 2,500 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $126.19, for a total value of $315,475.00. The disclosure for this sale can be found here. Insiders sold a total of 17,075 shares of company stock valued at $2,445,102 over the last three months. 3.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROLL. IFP Advisors Inc increased its position in shares of RBC Bearings by 66.7% during the 4th quarter. IFP Advisors Inc now owns 195 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 78 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $33,000. Quadrant Capital Group LLC increased its position in shares of RBC Bearings by 180.7% during the 1st quarter. Quadrant Capital Group LLC now owns 553 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 356 shares during the last quarter. Advisory Services Network LLC increased its position in shares of RBC Bearings by 39.7% during the 4th quarter. Advisory Services Network LLC now owns 577 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC purchased a new stake in shares of RBC Bearings during the 4th quarter valued at $77,000. 97.00% of the stock is owned by institutional investors and hedge funds.
Shares of ROLL traded down $3.35 during trading hours on Wednesday, reaching $150.58. The stock had a trading volume of 63,014 shares, compared to its average volume of 105,061. RBC Bearings has a 12 month low of $123.50 and a 12 month high of $169.84. The company has a quick ratio of 1.87, a current ratio of 5.58 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.74 billion, a P/E ratio of 31.11, a P/E/G ratio of 4.93 and a beta of 1.24.
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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