Brokerages Anticipate RBC Bearings Incorporated (ROLL) Will Announce Quarterly Sales of $174.68 Million

Equities research analysts predict that RBC Bearings Incorporated (NASDAQ:ROLL) will report $174.68 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $175.25 million and the lowest estimate coming in at $174.10 million. RBC Bearings reported sales of $160.21 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9%. The business is expected to issue its next earnings results on Wednesday, May 30th.

According to Zacks, analysts expect that RBC Bearings will report full year sales of $174.68 million for the current year, with estimates ranging from $669.20 million to $670.32 million. For the next fiscal year, analysts forecast that the business will post sales of $731.01 million per share, with estimates ranging from $720.80 million to $741.22 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for RBC Bearings.

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RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.19. RBC Bearings had a net margin of 12.52% and a return on equity of 11.79%. The firm had revenue of $166.86 million during the quarter, compared to analyst estimates of $163.46 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. RBC Bearings’s quarterly revenue was up 13.8% on a year-over-year basis.

A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Wednesday, March 14th. Zacks Investment Research lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. ValuEngine lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Drexel Hamilton assumed coverage on shares of RBC Bearings in a report on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $141.00.

Shares of NASDAQ:ROLL opened at $124.20 on Friday. The company has a quick ratio of 1.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.23. RBC Bearings has a 12-month low of $91.00 and a 12-month high of $139.95. The stock has a market capitalization of $3,016.75, a P/E ratio of 39.18, a PEG ratio of 5.41 and a beta of 1.29.

In other RBC Bearings news, CEO Michael J. Hartnett sold 24,218 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $128.02, for a total transaction of $3,100,388.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan B. Levine sold 4,900 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $115.70, for a total transaction of $566,930.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,989 shares of company stock valued at $11,736,880. 3.70% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Cortina Asset Management LLC purchased a new position in RBC Bearings during the fourth quarter worth about $9,120,000. Swiss National Bank boosted its stake in RBC Bearings by 4.3% during the fourth quarter. Swiss National Bank now owns 41,690 shares of the industrial products company’s stock worth $5,270,000 after buying an additional 1,700 shares during the period. Great West Life Assurance Co. Can boosted its stake in RBC Bearings by 44.7% during the third quarter. Great West Life Assurance Co. Can now owns 3,002 shares of the industrial products company’s stock worth $373,000 after buying an additional 928 shares during the period. Teacher Retirement System of Texas boosted its stake in RBC Bearings by 314.6% during the fourth quarter. Teacher Retirement System of Texas now owns 8,317 shares of the industrial products company’s stock worth $1,051,000 after buying an additional 6,311 shares during the period. Finally, Davis R M Inc. boosted its stake in RBC Bearings by 46.8% during the fourth quarter. Davis R M Inc. now owns 61,549 shares of the industrial products company’s stock worth $7,780,000 after buying an additional 19,619 shares during the period. 99.49% of the stock is owned by institutional investors.

RBC Bearings Company Profile

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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