Analysts forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will announce $183.32 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for RBC Bearings’ earnings, with estimates ranging from $183.05 million to $183.70 million. RBC Bearings reported sales of $175.99 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The company is expected to announce its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that RBC Bearings will report full-year sales of $765.18 million for the current fiscal year, with estimates ranging from $755.80 million to $780.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $835.10 million, with estimates ranging from $812.50 million to $860.30 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Thursday, May 23rd. The industrial products company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.11. The company had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $180.76 million. RBC Bearings had a return on equity of 13.01% and a net margin of 14.97%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share.
Several analysts have recently weighed in on the company. William Blair restated a “buy” rating on shares of Dynavax Technologies in a report on Friday, May 24th. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, SunTrust Banks boosted their price target on Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $161.33.
Shares of NASDAQ:ROLL traded up $1.58 during midday trading on Friday, hitting $164.16. 77,700 shares of the stock were exchanged, compared to its average volume of 111,714. The firm has a market cap of $4.04 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 5.22 and a beta of 1.30. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.58 and a quick ratio of 1.87. The business’s 50-day simple moving average is $155.54. RBC Bearings has a 12 month low of $123.50 and a 12 month high of $171.54.
In related news, Director Alan B. Levine sold 800 shares of RBC Bearings stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $167.58, for a total value of $134,064.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Patrick S. Bannon sold 1,693 shares of RBC Bearings stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total value of $248,871.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,300 shares of company stock worth $3,300,870. 3.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ROLL. Park National Corp OH acquired a new position in RBC Bearings in the second quarter valued at approximately $204,000. Advisory Services Network LLC increased its holdings in shares of RBC Bearings by 20.8% during the first quarter. Advisory Services Network LLC now owns 697 shares of the industrial products company’s stock valued at $89,000 after acquiring an additional 120 shares in the last quarter. GYL Financial Synergies LLC bought a new stake in shares of RBC Bearings during the first quarter valued at approximately $895,000. Clearbridge Investments LLC increased its holdings in shares of RBC Bearings by 66.4% during the first quarter. Clearbridge Investments LLC now owns 196,398 shares of the industrial products company’s stock valued at $24,976,000 after acquiring an additional 78,378 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of RBC Bearings during the first quarter valued at approximately $678,000. 98.03% of the stock is currently owned by institutional investors.
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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