Zacks: Brokerages Anticipate RBC Bearings Incorporated (NASDAQ:ROLL) Will Announce Quarterly Sales of $160.81 Million
Equities research analysts expect RBC Bearings Incorporated (NASDAQ:ROLL) to report sales of $160.81 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $161.50 million and the lowest estimate coming in at $160.00 million. RBC Bearings posted sales of $154.58 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The business is expected to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that RBC Bearings will report full year sales of $160.81 million for the current year, with estimates ranging from $650.00 million to $669.01 million. For the next financial year, analysts expect that the company will post sales of $701.94 million per share, with estimates ranging from $674.00 million to $732.41 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Wednesday, May 31st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.02. RBC Bearings had a return on equity of 11.12% and a net margin of 11.48%. The business had revenue of $160.20 million for the quarter, compared to analyst estimates of $161.08 million. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was down 1.3% on a year-over-year basis.
Separately, Zacks Investment Research downgraded RBC Bearings from a “hold” rating to a “sell” rating in a report on Thursday, April 6th.
In other RBC Bearings news, insider Michael J. Hartnett sold 26,745 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $103.84, for a total transaction of $2,777,200.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas C. Crainer sold 5,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $106.62, for a total transaction of $533,100.00. The disclosure for this sale can be found here. Insiders sold 135,425 shares of company stock valued at $14,249,574 over the last 90 days. 4.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ROLL. Ameritas Investment Partners Inc. purchased a new stake in shares of RBC Bearings during the first quarter worth approximately $190,000. State Street Corp boosted its stake in shares of RBC Bearings by 4.0% in the fourth quarter. State Street Corp now owns 403,598 shares of the industrial products company’s stock worth $37,463,000 after buying an additional 15,394 shares during the period. Suntrust Banks Inc. boosted its stake in shares of RBC Bearings by 2.3% in the first quarter. Suntrust Banks Inc. now owns 4,703 shares of the industrial products company’s stock worth $455,000 after buying an additional 107 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of RBC Bearings during the fourth quarter worth approximately $180,000. Finally, Norges Bank purchased a new stake in shares of RBC Bearings during the fourth quarter worth approximately $14,820,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.
RBC Bearings (NASDAQ:ROLL) traded down 1.50% on Friday, hitting $103.86. The stock had a trading volume of 126,473 shares. The company has a 50 day moving average of $103.46 and a 200 day moving average of $97.09. The company has a market capitalization of $2.47 billion, a PE ratio of 34.97 and a beta of 1.30. RBC Bearings has a 12-month low of $67.99 and a 12-month high of $108.39.
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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