Wall Street analysts predict that RBC Bearings Incorporated (NASDAQ:ROLL) will announce $0.86 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for RBC Bearings’ earnings, with estimates ranging from $0.85 to $0.87. RBC Bearings reported earnings of $0.73 per share in the same quarter last year, which would indicate a positive year over year growth rate of 17.8%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 6th.
On average, analysts expect that RBC Bearings will report full year earnings of $3.74 per share for the current financial year, with EPS estimates ranging from $3.66 to $3.80. For the next financial year, analysts expect that the business will report earnings of $4.41 per share, with EPS estimates ranging from $4.10 to $4.67. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow RBC Bearings.
Several equities research analysts recently issued reports on ROLL shares. Bank of America boosted their price objective on RBC Bearings from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. Drexel Hamilton started coverage on RBC Bearings in a report on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective on the stock. Zacks Investment Research upgraded RBC Bearings from a “hold” rating to a “buy” rating and set a $144.00 price objective on the stock in a report on Tuesday, January 23rd. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, ValuEngine downgraded RBC Bearings from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $141.00.
In other RBC Bearings news, VP Thomas C. Crainer sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total transaction of $1,811,400.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael J. Hartnett sold 1,687 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $128.28, for a total value of $216,408.36. The disclosure for this sale can be found here. Insiders sold a total of 37,487 shares of company stock worth $4,632,657 in the last quarter. Company insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ROLL. SG Americas Securities LLC purchased a new stake in RBC Bearings during the 3rd quarter worth about $189,000. Comerica Bank purchased a new stake in RBC Bearings during the 3rd quarter worth about $230,000. Strs Ohio increased its holdings in RBC Bearings by 58.3% during the 3rd quarter. Strs Ohio now owns 1,900 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 700 shares during the period. Parametrica Management Ltd purchased a new stake in RBC Bearings during the 3rd quarter worth about $238,000. Finally, Teacher Retirement System of Texas purchased a new stake in RBC Bearings during the 3rd quarter worth about $251,000. Institutional investors own 98.98% of the company’s stock.
Shares of RBC Bearings (ROLL) opened at $114.69 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 4.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2,880.00, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 5.59 and a beta of 1.28. RBC Bearings has a 1 year low of $88.70 and a 1 year high of $139.95.
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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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