Q3 2017 EPS Estimates for RBC Bearings Inc. Decreased by Seaport Global Securities (ROLL)
RBC Bearings Inc. (NASDAQ:ROLL) – Equities researchers at Seaport Global Securities reduced their Q3 2017 earnings estimates for shares of RBC Bearings in a research note issued on Friday. Seaport Global Securities analyst W. Liptak now expects that the firm will post earnings of $0.80 per share for the quarter, down from their previous estimate of $0.85. Seaport Global Securities has a “Neutral” rating and a $73.00 price objective on the stock. Seaport Global Securities also issued estimates for RBC Bearings’ FY2017 earnings at $3.28 EPS, Q3 2018 earnings at $0.91 EPS, Q4 2018 earnings at $1.12 EPS and FY2018 earnings at $3.67 EPS.
Separately, Zacks Investment Research raised shares of RBC Bearings from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $75.60.
RBC Bearings (NASDAQ:ROLL) opened at 71.29 on Monday. The firm has a 50 day moving average of $76.34 and a 200-day moving average of $74.89. The stock has a market capitalization of $1.66 billion, a PE ratio of 24.50 and a beta of 1.19. RBC Bearings has a 52 week low of $54.38 and a 52 week high of $87.82.
RBC Bearings (NASDAQ:ROLL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.01. RBC Bearings had a return on equity of 12.05% and a net margin of 11.24%. The business earned $154.58 million during the quarter, compared to analysts’ expectations of $152.83 million. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis.
In related news, insider Michael J. Hartnett sold 6,742 shares of the business’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $76.12, for a total value of $513,201.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of ROLL. Victory Capital Management Inc. boosted its position in RBC Bearings by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,448 shares of the company’s stock worth $105,000 after buying an additional 631 shares in the last quarter. Advisor Group Inc. bought a new position in RBC Bearings during the second quarter worth $116,000. BlackRock Inc. boosted its position in RBC Bearings by 111.7% in the first quarter. BlackRock Inc. now owns 1,647 shares of the company’s stock worth $121,000 after buying an additional 869 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in RBC Bearings by 98.2% in the third quarter. BNP Paribas Arbitrage SA now owns 2,059 shares of the company’s stock worth $157,000 after buying an additional 1,020 shares in the last quarter. Finally, Checchi Capital Advisers LLC bought a new position in RBC Bearings during the second quarter worth $206,000. Institutional investors own 99.73% of the company’s stock.
RBC Bearings Company Profile
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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