$162.27 Million in Sales Expected for RBC Bearings Incorporated (ROLL) This Quarter
Wall Street brokerages expect RBC Bearings Incorporated (NASDAQ:ROLL) to post $162.27 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for RBC Bearings’ earnings. The highest sales estimate is $164.80 million and the lowest is $158.00 million. RBC Bearings reported sales of $153.94 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that RBC Bearings will report full-year sales of $162.27 million for the current year, with estimates ranging from $650.00 million to $670.12 million. For the next financial year, analysts forecast that the company will report sales of $704.21 million per share, with estimates ranging from $674.00 million to $733.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.09. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The firm had revenue of $163.90 million for the quarter, compared to analyst estimates of $160.42 million. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. BidaskClub downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
Shares of RBC Bearings (NASDAQ:ROLL) traded up 0.32% during trading on Tuesday, reaching $126.86. The company had a trading volume of 65,587 shares. RBC Bearings has a 12 month low of $67.99 and a 12 month high of $135.54. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 40.76 and a beta of 1.31. The firm has a 50 day moving average price of $121.11 and a 200 day moving average price of $107.13.
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Several institutional investors and hedge funds have recently made changes to their positions in ROLL. BlackRock Inc. increased its holdings in shares of RBC Bearings by 90,578.3% during the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock worth $174,231,000 after purchasing an additional 1,792,544 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of RBC Bearings by 131.3% during the second quarter. Wasatch Advisors Inc. now owns 858,702 shares of the industrial products company’s stock worth $87,382,000 after purchasing an additional 487,495 shares during the period. Janus Henderson Group PLC increased its holdings in shares of RBC Bearings by 56.1% during the second quarter. Janus Henderson Group PLC now owns 492,837 shares of the industrial products company’s stock worth $50,151,000 after purchasing an additional 177,117 shares during the period. Vanguard Group Inc. increased its holdings in shares of RBC Bearings by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock worth $175,223,000 after purchasing an additional 96,915 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of RBC Bearings by 311.9% during the second quarter. Russell Investments Group Ltd. now owns 88,067 shares of the industrial products company’s stock worth $8,962,000 after purchasing an additional 66,685 shares during the period. 99.93% of the stock is currently owned by institutional investors.
RBC Bearings Company Profile
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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