RBC Bearings Incorporated (NASDAQ:ROLL) Expected to Announce Earnings of $1.07 Per Share


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Brokerages expect RBC Bearings Incorporated (NASDAQ:ROLL) to report $1.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for RBC Bearings’ earnings. The lowest EPS estimate is $0.99 and the highest is $1.12. RBC Bearings posted earnings of $1.33 per share during the same quarter last year, which indicates a negative year over year growth rate of 19.5%. The firm is scheduled to report its next earnings report on Wednesday, May 19th.

On average, analysts expect that RBC Bearings will report full-year earnings of $3.85 per share for the current fiscal year, with EPS estimates ranging from $3.77 to $3.90. For the next year, analysts anticipate that the company will report earnings of $4.41 per share, with EPS estimates ranging from $4.29 to $4.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, January 28th. The industrial products company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. The business had revenue of $145.86 million for the quarter, compared to analyst estimates of $142.22 million. RBC Bearings had a return on equity of 9.70% and a net margin of 16.13%. RBC Bearings’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share.

A number of analysts have issued reports on ROLL shares. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research report on Friday, January 22nd. Truist raised their target price on RBC Bearings from $118.00 to $140.00 in a research report on Tuesday, February 2nd. Finally, Royal Bank of Canada reissued a “sell” rating on shares of RBC Bearings in a research report on Tuesday, February 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. RBC Bearings currently has a consensus rating of “Hold” and a consensus price target of $134.50.

RBC Bearings stock traded up $0.40 during mid-day trading on Tuesday, reaching $202.08. 85,469 shares of the company’s stock were exchanged, compared to its average volume of 105,395. The business’s fifty day simple moving average is $197.31 and its 200 day simple moving average is $178.32. The firm has a market capitalization of $5.08 billion, a PE ratio of 46.90 and a beta of 1.41. RBC Bearings has a one year low of $103.09 and a one year high of $206.64. The company has a quick ratio of 3.27, a current ratio of 7.47 and a debt-to-equity ratio of 0.01.

In other news, CFO Robert M. Sullivan sold 2,800 shares of RBC Bearings stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $181.00, for a total value of $506,800.00. Also, VP Patrick S. Bannon sold 2,163 shares of RBC Bearings stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $185.71, for a total value of $401,690.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,242 shares of company stock valued at $13,815,744. 3.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brinker Capital Investments LLC bought a new stake in RBC Bearings during the third quarter valued at $3,282,000. Park Avenue Securities LLC boosted its stake in RBC Bearings by 13.3% during the fourth quarter. Park Avenue Securities LLC now owns 1,886 shares of the industrial products company’s stock valued at $338,000 after buying an additional 222 shares during the period. Nisa Investment Advisors LLC boosted its stake in RBC Bearings by 11.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 900 shares of the industrial products company’s stock valued at $161,000 after buying an additional 95 shares during the period. Conestoga Capital Advisors LLC boosted its stake in RBC Bearings by 1.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 767,734 shares of the industrial products company’s stock valued at $137,455,000 after buying an additional 11,015 shares during the period. Finally, Wolff Wiese Magana LLC bought a new stake in RBC Bearings during the fourth quarter valued at $36,000. Institutional investors own 96.49% of the company’s stock.

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 through 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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Earnings History and Estimates for RBC Bearings (NASDAQ:ROLL)

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