RBC Bearings Incorporated (NASDAQ:ROLL) Expected to Post Quarterly Sales of $160.79 Million

Wall Street brokerages predict that RBC Bearings Incorporated (NASDAQ:ROLL) will post $160.79 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for RBC Bearings’ earnings. The lowest sales estimate is $159.68 million and the highest is $162.00 million. RBC Bearings posted sales of $146.34 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The firm is scheduled to announce its next quarterly earnings results on Friday, October 29th.

According to Zacks, analysts expect that RBC Bearings will report full-year sales of $669.20 million for the current year, with estimates ranging from $653.80 million to $689.40 million. For the next year, analysts forecast that the company will post sales of $744.73 million, with estimates ranging from $689.40 million to $816.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Thursday, August 5th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.04. The company had revenue of $156.21 million during the quarter, compared to the consensus estimate of $159.26 million. RBC Bearings had a return on equity of 8.16% and a net margin of 15.27%.

Several brokerages recently issued reports on ROLL. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating and set a $211.00 target price on the stock. in a research report on Tuesday, July 6th. Truist boosted their target price on RBC Bearings from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, July 27th. They noted that the move was a valuation call.

Shares of NASDAQ:ROLL traded down $6.33 during mid-day trading on Friday, hitting $212.24. 73,200 shares of the company traded hands, compared to its average volume of 96,723. The stock has a market cap of $5.40 billion, a P/E ratio of 57.36 and a beta of 1.38. The company has a current ratio of 8.23, a quick ratio of 4.36 and a debt-to-equity ratio of 0.01. RBC Bearings has a 12-month low of $113.40 and a 12-month high of $250.52. The stock has a 50-day moving average price of $220.58 and a two-hundred day moving average price of $205.08.

In other news, CEO Michael J. Hartnett sold 740 shares of the company’s stock in a transaction dated Thursday, June 24th. The stock was sold at an average price of $200.00, for a total value of $148,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in RBC Bearings by 6.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,197,544 shares of the industrial products company’s stock valued at $438,236,000 after acquiring an additional 139,502 shares during the period. Wasatch Advisors Inc. boosted its holdings in RBC Bearings by 1.5% during the 1st quarter. Wasatch Advisors Inc. now owns 1,671,881 shares of the industrial products company’s stock valued at $328,977,000 after acquiring an additional 25,291 shares during the period. Fred Alger Management LLC boosted its holdings in RBC Bearings by 46.3% during 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 acquiring an additional 394,017 shares during the period. Clearbridge Investments LLC boosted its holdings in RBC Bearings by 4.0% during the 2nd quarter. Clearbridge Investments LLC now owns 913,516 shares of the industrial products company’s stock valued at $182,173,000 after acquiring an additional 34,994 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in RBC Bearings by 0.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 785,181 shares of the industrial products company’s stock valued at $156,581,000 after acquiring an additional 7,015 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About RBC Bearings

RBC Bearings, Inc engages in the design, manufacture, and marketing of engineered precision bearings and products. It operates through the following segments: Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products. The Plain Bearings segment produces self-lubricating, metal-to-metal designs and other sub-classes, including rod end bearings, spherical plain bearings, and journal bearings.

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

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