KeyCorp Brokers Raise Earnings Estimates for RBC Bearings Incorporated (NASDAQ:ROLL)
RBC Bearings Incorporated (NASDAQ:ROLL) – Analysts at KeyCorp upped their FY2018 EPS estimates for RBC Bearings in a research note issued on Wednesday. KeyCorp analyst S. Barger now expects that the industrial products company will post earnings of $3.64 per share for the year, up from their previous estimate of $3.55. KeyCorp also issued estimates for RBC Bearings’ Q2 2019 earnings at $0.98 EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. BidaskClub cut shares of RBC Bearings from a “hold” rating to a “sell” rating in a research note on Friday, July 28th.
Shares of RBC Bearings (ROLL) opened at 104.48 on Friday. The stock has a 50 day moving average price of $103.30 and a 200 day moving average price of $98.43. RBC Bearings has a 1-year low of $67.99 and a 1-year high of $111.04. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 33.57 and a beta of 1.30.
RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.09. RBC Bearings had a return on equity of 11.25% and a net margin of 11.91%. The company had revenue of $163.90 million for the quarter, compared to analyst estimates of $160.42 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was up 6.0% compared to the same quarter last year.
In other RBC Bearings news, Director Richard R. Crowell sold 2,300 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $106.19, for a total transaction of $244,237.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Hartnett sold 4,474 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $104.48, for a total transaction of $467,443.52. The disclosure for this sale can be found here. In the last three months, insiders sold 135,425 shares of company stock worth $14,249,574. 3.70% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of RBC Bearings by 90,578.3% in the first quarter. BlackRock Inc. now owns 1,794,523 shares of the industrial products company’s stock worth $174,231,000 after buying an additional 1,792,544 shares during the period. Norges Bank purchased a new stake in shares of RBC Bearings during the fourth quarter worth approximately $14,820,000. OppenheimerFunds Inc. boosted its stake in shares of RBC Bearings by 151.3% in the first quarter. OppenheimerFunds Inc. now owns 234,624 shares of the industrial products company’s stock worth $22,780,000 after buying an additional 141,274 shares during the period. Vanguard Group Inc. boosted its stake in shares of RBC Bearings by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,804,750 shares of the industrial products company’s stock worth $175,223,000 after buying an additional 96,915 shares during the period. Finally, Legato Capital Management LLC boosted its stake in shares of RBC Bearings by 9,609.0% in the first quarter. Legato Capital Management LLC now owns 78,060 shares of the industrial products company’s stock worth $804,000 after buying an additional 77,256 shares during the period.
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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