Analysts Anticipate RBC Bearings Incorporated (NASDAQ:ROLL) Will Announce Quarterly Sales of $158.97 Million

Analysts expect RBC Bearings Incorporated (NASDAQ:ROLL) to post $158.97 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for RBC Bearings’ earnings. The highest sales estimate is $159.82 million and the lowest is $157.80 million. RBC Bearings reported sales of $185.84 million in the same quarter last year, which would suggest a negative year over year growth rate of 14.5%. The company is expected to announce its next quarterly earnings results on Wednesday, May 19th.

According to Zacks, analysts expect that RBC Bearings will report full-year sales of $607.67 million for the current year, with estimates ranging from $606.49 million to $608.51 million. For the next financial year, analysts anticipate that the business will post sales of $659.04 million, with estimates ranging from $639.80 million to $671.61 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 announced its quarterly earnings results on Thursday, January 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. The company had revenue of $145.86 million during the quarter, compared to the consensus estimate of $142.22 million. RBC Bearings had a return on equity of 9.70% and a net margin of 16.13%. RBC Bearings’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share.

Several brokerages have recently weighed in on ROLL. TheStreet raised RBC Bearings from a “c+” rating to a “b” rating in a research note on Monday, December 14th. Royal Bank of Canada reaffirmed a “sell” rating on shares of RBC Bearings in a research note on Tuesday, February 9th. Zacks Investment Research raised RBC Bearings from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research note on Friday, January 22nd. Finally, Truist upped their target price on RBC Bearings from $118.00 to $140.00 in a research note on Tuesday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $134.50.

Shares of ROLL stock traded down $3.29 during trading hours on Thursday, hitting $192.15. 2,842 shares of the company’s stock were exchanged, compared to its average volume of 114,590. The company has a quick ratio of 3.27, a current ratio of 7.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.83 billion, a P/E ratio of 44.93 and a beta of 1.41. The firm has a 50 day moving average of $182.48 and a two-hundred day moving average of $154.02. RBC Bearings has a fifty-two week low of $77.63 and a fifty-two week high of $196.28.

In other RBC Bearings news, CEO Michael J. Hartnett sold 13,329 shares of the company’s stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $168.68, for a total value of $2,248,335.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Patrick S. Bannon sold 2,163 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $185.71, for a total value of $401,690.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,725 shares of company stock valued at $19,667,941. 3.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Wasatch Advisors Inc. grew its holdings in RBC Bearings by 0.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,625,784 shares of the industrial products company’s stock valued at $197,062,000 after buying an additional 7,385 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in RBC Bearings by 6.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,500,077 shares of the industrial products company’s stock valued at $181,570,000 after buying an additional 94,511 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in RBC Bearings by 3.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,200,529 shares of the industrial products company’s stock valued at $214,943,000 after buying an additional 45,025 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in shares of RBC Bearings by 1.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 767,734 shares of the industrial products company’s stock worth $137,455,000 after purchasing an additional 11,015 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in shares of RBC Bearings by 41.2% during the 4th quarter. Clearbridge Investments LLC now owns 712,774 shares of the industrial products company’s stock worth $127,615,000 after purchasing an additional 207,901 shares during the period. Institutional investors own 96.49% of the company’s stock.

RBC Bearings Company Profile

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

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