Brokerages Predict RBC Bearings Incorporated (NASDAQ: ROLL) to Report Earnings Per Share of $ 1.00
Wall Street analysts predict that RBC Bearings Incorporated (NASDAQ: ROLL) will report earnings per share of $ 1.00 for the current quarter, Zacks reports. Three analysts have released earnings estimates for RBC Bearings. The highest EPS estimate is $ 1.03 and the lowest is $ 0.99. RBC Bearings reported earnings of $ 0.91 per share for the same quarter last year, suggesting a positive year-over-year growth rate of 9.9%. The company is expected to announce its next quarterly earnings report on Thursday, August 5.
On average, analysts predict that RBC Bearings will report annual earnings of $ 4.48 per share for the current fiscal year, with EPS estimates ranging from $ 4.39 to $ 4.60. For the next fiscal year, analysts expect the company to report earnings of $ 5.10 per share, with EPS estimates ranging from $ 4.74 to $ 5.50. Zacks Investment Research EPS averages are an average based on a survey of seller-side research analysts who track RBC Bearings.
RBC Bearings (NASDAQ: ROLL) last released its quarterly earnings data on Thursday, May 20. The industrials company reported EPS of $ 1.08 for the quarter, beating the consensus estimate of $ 1.07 by $ 0.01. The company posted revenue of $ 160.30 million in the quarter, compared to analysts’ estimates of $ 158.97 million. RBC Bearings had a net margin of 14.72% and a return on equity of 8.08%. RBC Bearings revenues were down 13.7% year over year. In the same quarter of the previous year, the company posted EPS of $ 1.33.
Separately, Zacks Investment Research downgraded RBC Bearings shares from a âbuyâ rating to a âholdâ rating and set a price target of $ 211.00 for the company. in a research report on Tuesday, July 6. Two analysts gave the stock a sell rating, two assigned a conservation rating, and two gave the company’s stock a buy rating. The stock currently has a consensus rating of “Hold” and an average target price of $ 145.33.
Meanwhile, director Edward Stewart sold 1,600 RBC Bearings shares in a trade on Thursday, May 27. The shares were sold for an average price of $ 193.38, for a total value of $ 309,408.00. The transaction was disclosed in a document filed with the SEC, which is available on the SEC’s website. In addition, CEO Michael J. Hartnett sold 10,000 shares of RBC Bearings in a trade on Friday, June 11. The shares were sold at an average price of $ 199.85, for a total trade of $ 1,998,500.00. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 58,240 shares of the company valued at $ 11,576,304. 3.50% of the shares are held by insiders of the company.
Large investors have recently increased or reduced their stakes in the company. Tompkins Financial Corp acquired a new position in RBC Bearings in the 4th quarter for a value of approximately $ 1,026,000. Baird Financial Group Inc. acquired a new position in RBC Bearings in the fourth quarter valued at approximately $ 19,716,000. Charles Schwab Investment Management Inc. increased its position in RBC Bearings equities by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,187 shares of the industrials company valued at $ 35,305,000 after purchasing an additional 2,365 shares in the last quarter. US Bancorp DE increased its position in RBC Bearings shares by 68.6% in the first quarter. US Bancorp DE now owns 12,859 shares of the industrial products company valued at $ 2,531,000 after acquiring an additional 5,230 shares in the last quarter. Finally, Curated Wealth Partners LLC increased its position in RBC Bearings shares by 9.6% during the first quarter. Curated Wealth Partners LLC now owns 1,620 shares of the industrial products company valued at $ 319,000 after acquiring 142 more shares in the last quarter. 98.56% of the shares are held by institutional investors and hedge funds.
ROLL shares traded up $ 4.50 during trading hours on Friday, reaching $ 198.24. The company’s shares had a trading volume of 33,504 shares, compared to an average volume of 112,183. The share has a 50-day simple moving average of $ 197.27. The stock has a market cap of $ 5.00 billion, a PE ratio of 55.37 and a beta of 1.37. The company has a debt ratio of 0.01, a rapid ratio of 4.13 and a current ratio of 8.25. RBC Bearings has a 12-month low of $ 113.40 and a 12-month high of $ 208.11.
RBC Bearing Company Profile
RBC Bearings Incorporated manufactures and markets precision engineered bearings and components in North America, Europe, Asia and Latin America. It operates in four segments: plain bearings, roller bearings, ball bearings and engineering products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs including spherical plain bearings, spherical plain bearings and plain bearings which are mainly used to rectify unavoidable misalignments of various mechanical components, rotors, or in heavy mining and construction equipment.
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