Zacks: Analysts Anticipate RBC Bearings Incorporated (ROLL) Will Announce Quarterly Sales of $174.26 Million

Analysts expect RBC Bearings Incorporated (NASDAQ:ROLL) to post $174.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for RBC Bearings’ earnings. The lowest sales estimate is $173.90 million and the highest is $174.78 million. RBC Bearings posted sales of $164.32 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The firm is expected to report its next quarterly earnings results before the market opens on Friday, November 2nd.

On average, analysts expect that RBC Bearings will report full-year sales of $726.67 million for the current financial year, with estimates ranging from $719.63 million to $737.17 million. For the next financial year, analysts anticipate that the firm will report sales of $807.34 million, with estimates ranging from $786.75 million to $829.98 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.10. The business had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $174.32 million. RBC Bearings had a net margin of 13.51% and a return on equity of 12.29%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS.

Several research analysts have recently weighed in on ROLL shares. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Tuesday, July 31st. BidaskClub upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Saturday, July 21st. William Blair reiterated an “outperform” rating on shares of RBC Bearings in a research note on Thursday, September 27th. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of RBC Bearings in a research note on Thursday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. RBC Bearings currently has a consensus rating of “Hold” and a consensus target price of $142.80.

Shares of RBC Bearings stock opened at $146.65 on Tuesday. The firm has a market cap of $3.51 billion, a PE ratio of 37.89, a price-to-earnings-growth ratio of 5.15 and a beta of 1.47. RBC Bearings has a 1-year low of $111.61 and a 1-year high of $158.18. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.12 and a current ratio of 5.79.

In related news, insider Michael J. Hartnett sold 31,523 shares of RBC Bearings stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $153.61, for a total transaction of $4,842,248.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 5,500 shares of RBC Bearings stock in a transaction on Monday, September 10th. The shares were sold at an average price of $154.04, for a total transaction of $847,220.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,886 shares of company stock worth $42,266,095. 3.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROLL. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of RBC Bearings by 31.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock valued at $210,000 after buying an additional 391 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in RBC Bearings by 31.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,435 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 578 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in RBC Bearings in the 2nd quarter valued at $319,000. Guggenheim Capital LLC increased its holdings in RBC Bearings by 34.7% in the 1st quarter. Guggenheim Capital LLC now owns 2,945 shares of the industrial products company’s stock valued at $366,000 after acquiring an additional 758 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in RBC Bearings by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,038 shares of the industrial products company’s stock valued at $391,000 after acquiring an additional 417 shares during the last quarter. Institutional investors own 96.52% of the company’s stock.

About RBC Bearings

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