Zacks: Brokerages Expect RBC Bearings Incorporated (NASDAQ:ROLL) Will Announce Quarterly Sales of $181.23 Million
Analysts expect RBC Bearings Incorporated (NASDAQ:ROLL) to announce $181.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for RBC Bearings’ earnings, with estimates ranging from $180.56 million to $181.90 million. RBC Bearings reported sales of $172.92 million during the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The firm is scheduled to issue its next quarterly earnings results on Friday, November 1st.
According to Zacks, analysts expect that RBC Bearings will report full-year sales of $752.85 million for the current financial year, with estimates ranging from $746.86 million to $758.00 million. For the next fiscal year, analysts forecast that the business will report sales of $824.46 million, with estimates ranging from $806.10 million to $845.98 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.04. The firm had revenue of $182.69 million during the quarter, compared to the consensus estimate of $183.13 million. RBC Bearings had a return on equity of 12.82% and a net margin of 15.26%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS.
In other news, Director Thomas J. Obrien sold 6,500 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $158.02, for a total transaction of $1,027,130.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel A. Bergeron sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $157.74, for a total value of $3,154,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 86,856 shares of company stock valued at $13,800,901 over the last ninety days. Company insiders own 3.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Investments LLC raised its stake in shares of RBC Bearings by 22.3% in the 2nd quarter. Atria Investments LLC now owns 10,805 shares of the industrial products company’s stock valued at $1,716,000 after acquiring an additional 1,968 shares in the last quarter. BlackRock Inc. raised its stake in shares of RBC Bearings by 1.9% in the 2nd quarter. BlackRock Inc. now owns 2,060,806 shares of the industrial products company’s stock valued at $343,763,000 after acquiring an additional 37,704 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its stake in shares of RBC Bearings by 7.7% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 7,205 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 516 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in shares of RBC Bearings by 5.3% in the 2nd quarter. Chartwell Investment Partners LLC now owns 11,157 shares of the industrial products company’s stock valued at $1,861,000 after acquiring an additional 565 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of RBC Bearings by 3.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,471,067 shares of the industrial products company’s stock valued at $412,200,000 after acquiring an additional 84,744 shares in the last quarter. 98.53% of the stock is owned by institutional investors.
RBC Bearings stock traded up $2.82 during mid-day trading on Friday, hitting $155.84. The company’s stock had a trading volume of 917 shares, compared to its average volume of 105,485. The firm’s 50 day moving average is $160.28 and its 200 day moving average is $150.78. The company has a market cap of $3.91 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 5.07 and a beta of 1.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.15 and a quick ratio of 1.72. RBC Bearings has a 52-week low of $123.50 and a 52-week high of $171.54.
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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