RBC Bearings (ROLL) Announces Earnings Results, Beats Estimates By $0.11 EPS

RBC Bearings (NASDAQ:ROLL) issued its quarterly earnings results on Thursday. The industrial products company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.11, Briefing.com reports. The firm had revenue of $182.20 million for the quarter, compared to analysts’ expectations of $180.76 million. RBC Bearings had a return on equity of 12.77% and a net margin of 14.34%. RBC Bearings’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. RBC Bearings updated its Q1 2020 guidance to EPS.

Shares of NASDAQ ROLL opened at $147.25 on Friday. RBC Bearings has a one year low of $114.03 and a one year high of $169.84. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 4.53 and a beta of 1.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.44 and a quick ratio of 2.50.

In other RBC Bearings news, Director Amir Faghri sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $127.35, for a total transaction of $318,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC boosted its position in RBC Bearings by 66.4% during the 1st quarter. Clearbridge Investments LLC now owns 196,398 shares of the industrial products company’s stock worth $24,976,000 after acquiring an additional 78,378 shares during the period. GYL Financial Synergies LLC acquired a new stake in RBC Bearings during the 1st quarter worth about $895,000. Advisory Services Network LLC boosted its position in RBC Bearings by 20.8% during the 1st quarter. Advisory Services Network LLC now owns 697 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 120 shares during the period. Covenant Partners LLC acquired a new stake in RBC Bearings during the 1st quarter worth about $248,000. Finally, Jane Street Group LLC boosted its position in RBC Bearings by 16.6% during the 1st quarter. Jane Street Group LLC now owns 2,979 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 424 shares during the period. Hedge funds and other institutional investors own 98.16% of the company’s stock.

ROLL has been the topic of a number of analyst reports. Zacks Investment Research raised RBC Bearings from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. William Blair restated an “outperform” rating on shares of RBC Bearings in a research report on Friday. Finally, SunTrust Banks raised their price objective on RBC Bearings to $137.00 and gave the stock a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. RBC Bearings presently has a consensus rating of “Hold” and a consensus price target of $161.33.

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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.

Further Reading: What is net income?

Earnings History for RBC Bearings (NASDAQ:ROLL)

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