Q3 2017 EPS Estimates for RBC Bearings Inc. Decreased by Seaport Global Securities (ROLL)
RBC Bearings Inc. (NASDAQ:ROLL) – Stock analysts at Seaport Global Securities decreased their Q3 2017 earnings estimates for RBC Bearings in a report released on Friday. Seaport Global Securities analyst W. Liptak now forecasts that the firm will earn $0.80 per share for the quarter, down from their prior estimate of $0.85. Seaport Global Securities has a “Neutral” rating and a $73.00 price objective on the stock. Seaport Global Securities also issued estimates for RBC Bearings’ FY2017 earnings at $3.28 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.12 EPS and FY2018 earnings at $3.67 EPS.
Separately, Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $75.60.
Shares of RBC Bearings (NASDAQ:ROLL) opened at 71.29 on Monday. The stock has a 50 day moving average price of $76.34 and a 200-day moving average price of $74.89. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 24.50 and a beta of 1.19. RBC Bearings has a one year low of $54.38 and a one year high of $87.82.
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RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. The firm earned $154.58 million during the quarter, compared to the consensus estimate of $152.83 million. RBC Bearings had a net margin of 11.24% and a return on equity of 12.05%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share.
Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of RBC Bearings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,448 shares of the company’s stock valued at $105,000 after buying an additional 631 shares in the last quarter. Advisor Group Inc. purchased a new stake in shares of RBC Bearings during the second quarter valued at approximately $116,000. BlackRock Inc. increased its stake in shares of RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock valued at $121,000 after buying an additional 869 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock valued at $157,000 after buying an additional 1,020 shares in the last quarter. Finally, Checchi Capital Advisers LLC purchased a new stake in shares of RBC Bearings during the second quarter valued at approximately $206,000. Institutional investors own 99.73% of the company’s stock.
In other RBC Bearings news, insider Michael J. Hartnett sold 6,742 shares of the stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $76.12, for a total transaction of $513,201.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% 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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