RBC Bearings Incorporated (ROLL) to Post Q3 2019 Earnings of $1.20 Per Share, SunTrust Banks Forecasts
RBC Bearings Incorporated (NASDAQ:ROLL) – Research analysts at SunTrust Banks increased their Q3 2019 earnings per share (EPS) estimates for RBC Bearings in a research report issued on Monday, November 5th. SunTrust Banks analyst M. Ciarmoli now expects that the industrial products company will post earnings per share of $1.20 for the quarter, up from their prior forecast of $1.17. SunTrust Banks also issued estimates for RBC Bearings’ FY2020 earnings at $5.34 EPS.
A number of other equities research analysts also recently commented on the company. BidaskClub downgraded RBC Bearings from a “buy” rating to a “hold” rating in a research report on Thursday. William Blair restated an “outperform” rating on shares of RBC Bearings in a report on Thursday, September 27th. Zacks Investment Research lowered RBC Bearings from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Royal Bank of Canada restated a “sell” rating on shares of RBC Bearings in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $143.50.
RBC Bearings (NASDAQ:ROLL) last announced its quarterly earnings data on Friday, November 2nd. The industrial products company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. RBC Bearings had a return on equity of 12.94% and a net margin of 15.54%. The company had revenue of $172.92 million during the quarter, compared to the consensus estimate of $174.30 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its stake in shares of RBC Bearings by 280.0% in the third quarter. Parallel Advisors LLC now owns 741 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 546 shares during the last quarter. Synovus Financial Corp increased its stake in shares of RBC Bearings by 164.0% in the third quarter. Synovus Financial Corp now owns 940 shares of the industrial products company’s stock worth $141,000 after acquiring an additional 584 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in shares of RBC Bearings in the third quarter worth $213,000. O Shaughnessy Asset Management LLC acquired a new position in shares of RBC Bearings in the third quarter worth $220,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of RBC Bearings by 31.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,628 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 391 shares during the last quarter. 96.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Michael J. Hartnett sold 11,429 shares of the stock in a transaction on Friday, September 21st. The stock was sold at an average price of $153.31, for a total value of $1,752,179.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitchell I. Quain sold 6,500 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $140.19, for a total value of $911,235.00. The disclosure for this sale can be found here. Insiders sold 149,137 shares of company stock valued at $22,660,927 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.
About RBC Bearings
RBC Bearings Incorporated manufactures and markets engineered precision bearings and components in North America, Europe, Asia, and Latin America. It operates in four segments: Plain Bearings, Roller Bearings, Ball Bearings, and Engineered Products. The Plain Bearings segment produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings that are primarily used to rectify inevitable misalignments in various mechanical components, such as aircraft controls, helicopter rotors, or in heavy mining and construction equipment.
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