RBC Bearings Incorporated (NASDAQ:ROLL) to Post Q2 2018 Earnings of $0.86 Per Share, William Blair Forecasts
RBC Bearings Incorporated (NASDAQ:ROLL) – Equities researchers at William Blair reduced their Q2 2018 earnings estimates for RBC Bearings in a research report issued on Tuesday. William Blair analyst N. Heymann now expects that the industrial products company will post earnings per share of $0.86 for the quarter, down from their prior estimate of $0.89. William Blair also issued estimates for RBC Bearings’ Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $3.85 EPS, FY2019 earnings at $4.45 EPS and FY2020 earnings at $5.27 EPS.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.09. RBC Bearings had a return on equity of 11.50% and a net margin of 11.91%. The business had revenue of $163.90 million during the quarter, compared to analyst estimates of $160.42 million. During the same quarter last year, the company posted $0.77 EPS. RBC Bearings’s revenue for the quarter was up 6.0% on a year-over-year basis.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut RBC Bearings from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. BidaskClub cut RBC Bearings from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
RBC Bearings (ROLL) traded down 1.43% during trading on Thursday, hitting $106.01. The company had a trading volume of 13,482 shares. The firm has a 50-day moving average of $103.05 and a 200 day moving average of $98.26. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 34.06 and a beta of 1.30. RBC Bearings has a 12-month low of $67.99 and a 12-month high of $111.04.
In other news, VP Thomas C. Crainer sold 5,000 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $106.62, for a total transaction of $533,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard R. Crowell sold 2,300 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $106.19, for a total value of $244,237.00. The disclosure for this sale can be found here. Insiders have sold 135,425 shares of company stock valued at $14,249,574 over the last ninety days. 3.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in shares of RBC Bearings during the first quarter valued at approximately $190,000. Bank of America Corp DE boosted its position in shares of RBC Bearings by 5.1% in the first quarter. Bank of America Corp DE now owns 53,335 shares of the industrial products company’s stock valued at $5,178,000 after buying an additional 2,578 shares during the period. Suntrust Banks Inc. boosted its position in shares of RBC Bearings by 2.3% in the first quarter. Suntrust Banks Inc. now owns 4,703 shares of the industrial products company’s stock valued at $455,000 after buying an additional 107 shares during the period. Russell Investments Group Ltd. bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $180,000. Finally, Norges Bank bought a new position in shares of RBC Bearings during the fourth quarter valued at approximately $14,820,000.
About RBC Bearings
RBC Bearings Incorporated is an international manufacturer and marketer of engineered precision bearings and products, which are integral to the manufacture and operation of machines, aircraft and mechanical systems. The Company operates through four segments: Plain Bearings; Roller Bearings; Ball Bearings, and Engineered Products.
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