Zacks: Analysts Expect RBC Bearings Incorporated (NASDAQ:ROLL) Will Post Earnings of $1.06 Per Share

Wall Street brokerages predict that RBC Bearings Incorporated (NASDAQ:ROLLGet Rating) will post earnings of $1.06 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for RBC Bearings’ earnings, with estimates ranging from $0.94 to $1.12. RBC Bearings reported earnings of $1.08 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The firm is expected to issue its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that RBC Bearings will report full year earnings of $3.69 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.75. For the next fiscal year, analysts expect that the firm will post earnings of $5.45 per share, with EPS estimates ranging from $4.60 to $6.35. Zacks’ EPS averages are a mean average based on a survey of research firms that cover RBC Bearings.

RBC Bearings (NASDAQ:ROLLGet Rating) last posted its quarterly earnings results on Thursday, February 10th. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. RBC Bearings had a net margin of 7.77% and a return on equity of 5.76%. The business had revenue of $266.95 million for the quarter, compared to the consensus estimate of $253.69 million. During the same period in the prior year, the business posted $0.90 earnings per share. RBC Bearings’s revenue for the quarter was up 83.0% compared to the same quarter last year.

ROLL has been the topic of a number of research reports. StockNews.com downgraded shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Zacks Investment Research raised shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research note on Monday, February 14th. Bank of America began coverage on shares of RBC Bearings in a research note on Thursday, February 17th. They issued a “buy” rating on the stock. Wells Fargo & Company began coverage on shares of RBC Bearings in a research report on Friday, March 11th. They set an “overweight” rating and a $235.00 target price on the stock. Finally, TheStreet downgraded shares of RBC Bearings from a “b-” rating to a “c+” rating in a research report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, RBC Bearings presently has a consensus rating of “Buy” and a consensus price target of $227.00.

In other news, VP Patrick S. Bannon sold 6,306 shares of the firm’s stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $180.07, for a total value of $1,135,521.42. Following the sale, the vice president now directly owns 12,591 shares of the company’s stock, valued at $2,267,261.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.

Several large investors have recently modified their holdings of ROLL. RMB Capital Management LLC lifted its stake in shares of RBC Bearings by 5.2% in the first quarter. RMB Capital Management LLC now owns 45,227 shares of the industrial products company’s stock valued at $8,769,000 after buying an additional 2,233 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of RBC Bearings by 29.3% in the first quarter. TimesSquare Capital Management LLC now owns 213,190 shares of the industrial products company’s stock valued at $41,333,000 after buying an additional 48,355 shares during the period. New York State Common Retirement Fund lifted its stake in shares of RBC Bearings by 19.3% in the first quarter. New York State Common Retirement Fund now owns 44,003 shares of the industrial products company’s stock valued at $8,531,000 after buying an additional 7,131 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of RBC Bearings by 58.4% in the first quarter. Russell Investments Group Ltd. now owns 19,455 shares of the industrial products company’s stock valued at $3,770,000 after buying an additional 7,173 shares during the period. Finally, Stephens Investment Management Group LLC lifted its stake in shares of RBC Bearings by 9.7% in the first quarter. Stephens Investment Management Group LLC now owns 303,169 shares of the industrial products company’s stock valued at $58,778,000 after buying an additional 26,907 shares during the period.

Shares of NASDAQ ROLL traded down $3.39 during mid-day trading on Friday, reaching $167.19. The company had a trading volume of 151,684 shares, compared to its average volume of 135,008. RBC Bearings has a twelve month low of $163.81 and a twelve month high of $250.52. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.39 and a current ratio of 2.88. The stock has a market capitalization of $4.83 billion, a PE ratio of 80.77 and a beta of 1.35. The stock’s 50 day moving average is $186.70 and its 200-day moving average is $197.03.

About RBC Bearings (Get Rating)

RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates through 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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