Zacks: Brokerages Expect RBC Bearings Incorporated (ROLL) Will Post Quarterly Sales of $162.97 Million

Release Time：02 Feb,2018

<p style="text-align:center;"> <img src="/membcentre/editor/attached/image/20180202/20180202092814_32321.png" alt="" /> </p> <p> Analysts forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will report $162.97 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for RBC Bearings’ earnings. The highest sales estimate is $163.74 million and the lowest is $162.20 million. RBC Bearings posted sales of $146.66 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, February 6th. </p> <br /> According to Zacks, analysts expect that RBC Bearings will report full-year sales of $162.97 million for the current fiscal year, with estimates ranging from $664.50 million to $676.78 million. For the next financial year, analysts expect that the company will post sales of $729.25 million per share, with estimates ranging from $717.70 million to $740.79 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow RBC Bearings.<br /> <br /> RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to analysts’ expectations of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. RBC Bearings’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share.&nbsp;<br /> <br /> A number of equities research analysts have issued reports on the company. CL King assumed coverage on RBC Bearings in a research note on Wednesday, November 29th. They set a “buy” rating and a $142.00 target price on the stock. Zacks Investment Research cut RBC Bearings from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. BidaskClub cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine cut RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Drexel Hamilton started coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a “buy” rating and a $140.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $141.50.<br /> <br /> Shares of RBC Bearings (NASDAQ ROLL) traded up $4.83 during mid-day trading on Monday, reaching $131.51. The company’s stock had a trading volume of 164,722 shares, compared to its average volume of 91,542. RBC Bearings has a fifty-two week low of $88.70 and a fifty-two week high of $139.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. The stock has a market capitalization of $3,082.53, a P/E ratio of 42.94, a PEG ratio of 5.80 and a beta of 1.35.&nbsp;<br /> <br /> In other news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction on 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 document filed with the Securities &amp; Exchange Commission, which is available at this link. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $121.54, for a total value of $1,215,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock worth $4,632,657 in the last ninety days. Insiders own 3.70% of the company’s stock.&nbsp;<br /> <br /> Several institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in RBC Bearings by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company’s stock worth $286,296,000 after acquiring an additional 29,134 shares during the last quarter. BlackRock Inc. raised its stake in RBC Bearings by 2.8% in the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company’s stock worth $187,666,000 after acquiring an additional 49,694 shares during the last quarter. Vanguard Group Inc. raised its stake in RBC Bearings by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company’s stock worth $184,960,000 after acquiring an additional 12,863 shares during the last quarter. Wasatch Advisors Inc. raised its stake in RBC Bearings by 20.4% in the 4th quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company’s stock worth $151,512,000 after acquiring an additional 203,366 shares during the last quarter. Finally, Wells Fargo &amp; Company MN raised its stake in RBC Bearings by 2.2% in the 3rd quarter. Wells Fargo &amp; Company MN now owns 629,102 shares of the industrial products company’s stock worth $78,732,000 after acquiring an additional 13,670 shares during the last quarter. Hedge funds and other institutional investors own 98.81% of the company’s stock.&nbsp;<br /> <br />