RBC Bearings Incorporated (NASDAQ:ROLL) Expected to Announce Quarterly Sales of $158.97 Million


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Analysts expect that RBC Bearings Incorporated (NASDAQ:ROLL) will post sales of $158.97 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for RBC Bearings’ earnings, with estimates ranging from $157.80 million to $159.82 million. RBC Bearings reported sales of $185.84 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 19th.

On average, 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 fiscal year, analysts forecast that the company will post sales of $653.55 million, with estimates ranging from $639.80 million to $665.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings data on Thursday, January 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. RBC Bearings had a net margin of 16.13% and a return on equity of 9.70%. The firm had revenue of $145.86 million for the quarter, compared to the consensus estimate of $142.22 million. During the same quarter in the prior year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was down 17.6% compared to the same quarter last year.

Several research firms have recently issued reports on ROLL. Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $194.00 price objective on the stock in a report on Friday, January 22nd. Truist upped their price objective on shares of RBC Bearings from $118.00 to $140.00 in a report on Tuesday, February 2nd. Finally, Royal Bank of Canada reiterated a “sell” rating on shares of RBC Bearings in a research report on Tuesday, February 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. RBC Bearings has an average rating of “Hold” and an average target price of $134.50.

In other RBC Bearings news, CFO Robert M. Sullivan sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $181.00, for a total value of $506,800.00. Also, CEO Michael J. Hartnett sold 21,808 shares of the company’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $200.94, for a total value of $4,382,099.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,242 shares of company stock worth $13,815,744. 3.50% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Tompkins Financial Corp purchased a new stake in RBC Bearings in the 4th quarter worth approximately $1,026,000. Baird Financial Group Inc. purchased a new position in shares of RBC Bearings during the 4th quarter valued at approximately $19,716,000. Charles Schwab Investment Management Inc. lifted its position in shares of RBC Bearings by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 197,187 shares of the industrial products company’s stock valued at $35,305,000 after buying an additional 2,365 shares in the last quarter. RMB Capital Management LLC lifted its position in shares of RBC Bearings by 2.0% during the 4th quarter. RMB Capital Management LLC now owns 33,959 shares of the industrial products company’s stock valued at $6,080,000 after buying an additional 671 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of RBC Bearings during the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 96.49% of the company’s stock.

Shares of ROLL traded up $0.40 during mid-day trading on Thursday, hitting $202.08. 85,469 shares of the company traded hands, compared to its average volume of 105,395. RBC Bearings has a 1-year low of $103.09 and a 1-year high of $206.64. 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 company has a market capitalization of $5.08 billion, a PE ratio of 46.90 and a beta of 1.41. The business has a 50 day moving average of $197.31 and a 200 day moving average of $178.32.

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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