Brokerages Anticipate RBC Bearings Incorporated (ROLL) to Post $0.85 Earnings Per Share
Brokerages expect that RBC Bearings Incorporated (NASDAQ:ROLL) will post earnings of $0.85 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for RBC Bearings’ earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.80. RBC Bearings reported earnings of $0.78 per share during the same quarter last year, which indicates a positive year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that RBC Bearings will report full-year earnings of $3.66 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.85. For the next year, analysts expect that the firm will report earnings of $4.13 per share, with EPS estimates ranging from $3.93 to $4.45. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share (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 analysts’ expectations of $160.42 million. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share.
ROLL has been the topic of several recent analyst reports. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Thursday, August 10th. BidaskClub raised RBC Bearings from a “sell” rating to a “hold” rating in a report on Saturday, August 19th.
RBC Bearings (NASDAQ:ROLL) opened at 125.12 on Tuesday. RBC Bearings has a one year low of $67.99 and a one year high of $135.54. The stock’s 50 day moving average price is $113.15 and its 200-day moving average price is $103.58. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 40.21 and a beta of 1.31.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio grew its holdings in RBC Bearings by 71.4% during the 2nd quarter. Strs Ohio now owns 1,200 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in RBC Bearings by 106.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,237 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 637 shares in the last quarter. Victory Capital Management Inc. increased its position in RBC Bearings by 6.3% in the 1st quarter. Victory Capital Management Inc. now owns 1,722 shares of the industrial products company’s stock valued at $167,000 after acquiring an additional 102 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in RBC Bearings in the 1st quarter valued at about $190,000. Finally, LLBH Private Wealth Management LLC acquired a new stake in RBC Bearings in the 2nd quarter valued at about $254,000. Institutional investors and hedge funds own 99.87% of the company’s stock.
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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