Wall Street analysts expect that RBC Bearings Incorporated (NASDAQ:ROLL) will report $159.26 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for RBC Bearings’ earnings, with the highest sales estimate coming in at $160.40 million and the lowest estimate coming in at $158.02 million. RBC Bearings reported sales of $156.49 million in the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 5th.
According to Zacks, analysts expect that RBC Bearings will report full-year sales of $675.09 million for the current fiscal year, with estimates ranging from $655.80 million to $696.89 million. For the next financial year, analysts forecast that the firm will report sales of $745.60 million, with estimates ranging from $688.50 million to $811.17 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow RBC Bearings.
RBC Bearings (NASDAQ:ROLL) last released its earnings results on Thursday, May 20th. The industrial products company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. The firm had revenue of $160.30 million during the quarter, compared to analysts’ expectations of $158.97 million. RBC Bearings had a net margin of 14.72% and a return on equity of 8.08%. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 EPS.
In other news, Director Edward Stewart sold 1,600 shares of the stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $193.38, for a total value of $309,408.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick S. Bannon sold 12,000 shares of the stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $196.91, for a total transaction of $2,362,920.00. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ROLL. Fred Alger Management LLC raised its stake in shares of RBC Bearings by 46.3% in the 1st quarter. Fred Alger Management LLC now owns 1,244,398 shares of the industrial products company’s stock valued at $244,860,000 after buying an additional 394,017 shares in the last quarter. Clearbridge Investments LLC increased its position 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 in the last quarter. Norges Bank acquired a new stake in shares of RBC Bearings during the 4th quarter worth about $35,860,000. Baird Financial Group Inc. increased its position in shares of RBC Bearings by 153.1% during the 1st quarter. Baird Financial Group Inc. now owns 278,759 shares of the industrial products company’s stock worth $54,851,000 after purchasing an additional 168,637 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of RBC Bearings during the 1st quarter worth about $29,679,000. Institutional investors own 99.24% 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 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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