$162.97 Million in Sales Expected for RBC Bearings Incorporated (ROLL) This Quarter

Wall Street analysts expect that RBC Bearings Incorporated (NASDAQ:ROLL) will post sales of $162.97 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $163.74 million and the lowest estimate coming in at $162.20 million. RBC Bearings posted sales of $146.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The company is expected to issue its next earnings report on Wednesday, February 14th.

According to Zacks, analysts expect that RBC Bearings will report full-year sales of $162.97 million for the current fiscal year, with estimates ranging from $664.50 million to $676.78 million. For the next year, analysts anticipate that the business will post sales of $729.25 million per share, with estimates ranging from $717.70 million to $740.79 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.02). The company had revenue of $164.30 million during the quarter, compared to the consensus estimate of $164.56 million. RBC Bearings had a net margin of 11.18% and a return on equity of 11.10%. RBC Bearings’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS.

Several equities analysts recently commented on ROLL shares. Zacks Investment Research downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Bank of America increased their price objective on shares of RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. CL King started coverage on shares of RBC Bearings in a research note on Wednesday, November 29th. They issued a “buy” rating and a $142.00 price objective for the company. ValuEngine downgraded shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, BidaskClub downgraded shares of RBC Bearings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $139.50.

In other news, CEO Michael J. Hartnett sold 500 shares of the firm’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $128.00, for a total transaction of $64,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael J. Hartnett sold 1,687 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $128.28, for a total transaction of $216,408.36. The disclosure for this sale can be found here. Insiders have sold 37,487 shares of company stock valued at $4,632,657 in the last ninety days. Insiders own 3.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ROLL. Schwab Charles Investment Management Inc. raised its stake in shares of RBC Bearings by 4.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 127,253 shares of the industrial products company’s stock valued at $12,950,000 after acquiring an additional 5,046 shares during the last quarter. Rhumbline Advisers increased its position in shares of RBC Bearings by 0.9% during the second quarter. Rhumbline Advisers now owns 30,505 shares of the industrial products company’s stock worth $3,104,000 after buying an additional 281 shares during the period. Bank of New York Mellon Corp increased its position in shares of RBC Bearings by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 175,745 shares of the industrial products company’s stock worth $17,885,000 after buying an additional 1,774 shares during the period. Legal & General Group Plc increased its position in shares of RBC Bearings by 1.9% during the second quarter. Legal & General Group Plc now owns 8,312 shares of the industrial products company’s stock worth $845,000 after buying an additional 153 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of RBC Bearings by 610.6% during the second quarter. BNP Paribas Arbitrage SA now owns 3,283 shares of the industrial products company’s stock worth $334,000 after buying an additional 2,821 shares during the period. 97.89% of the stock is owned by hedge funds and other institutional investors.

Shares of RBC Bearings (NASDAQ:ROLL) traded up $1.74 during trading hours on Friday, reaching $126.25. 42,900 shares of the company traded hands, compared to its average volume of 58,567. The company has a market cap of $3,018.77, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 5.84 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. RBC Bearings has a fifty-two week low of $87.61 and a fifty-two week high of $139.95.

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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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Earnings History and Estimates for RBC Bearings (NASDAQ:ROLL)

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