RBC Bearings Incorporated Forecasted to Post Q3 2018 Earnings of $0.83 Per Share (ROLL)
RBC Bearings Incorporated (NASDAQ:ROLL) – Analysts at KeyCorp boosted their Q3 2018 earnings per share (EPS) estimates for shares of RBC Bearings in a research note issued to investors on Wednesday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.80. KeyCorp also issued estimates for RBC Bearings’ Q1 2019 earnings at $0.95 EPS, Q3 2019 earnings at $0.93 EPS, Q4 2019 earnings at $1.22 EPS and FY2019 earnings at $4.09 EPS.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.09. The company had revenue of $163.90 million during the quarter, compared to analyst estimates of $160.42 million. RBC Bearings had a return on equity of 11.50% and a net margin of 11.91%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/10/rbc-bearings-incorporated-forecasted-to-post-q3-2018-earnings-of-0-83-per-share-roll.html.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Thursday. BidaskClub lowered RBC Bearings from a “hold” rating to a “sell” rating in a report on Friday, July 28th.
Shares of RBC Bearings (ROLL) traded down 1.01% during midday trading on Thursday, reaching $106.46. The company’s stock had a trading volume of 13,592 shares. RBC Bearings has a 52 week low of $67.99 and a 52 week high of $111.04. The stock has a 50-day moving average price of $103.05 and a 200 day moving average price of $98.26. The stock has a market capitalization of $2.53 billion, a PE ratio of 34.21 and a beta of 1.30.
In related news, Director Richard R. Crowell sold 2,300 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $106.19, for a total transaction of $244,237.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hartnett sold 25,802 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $106.64, for a total value of $2,751,525.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,425 shares of company stock valued at $14,249,574. 3.70% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Strs Ohio raised its position in RBC Bearings by 71.4% in the second quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock valued at $122,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in RBC Bearings by 106.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after buying an additional 637 shares during the period. Victory Capital Management Inc. raised its position in RBC Bearings by 6.3% in the first quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock valued at $167,000 after buying an additional 102 shares during the period. Russell Investments Group Ltd. bought a new position in RBC Bearings during the fourth quarter valued at $180,000. Finally, Ameritas Investment Partners Inc. bought a new position in RBC Bearings during the first quarter valued at $190,000.
About RBC Bearings
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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