RBC Bearings (ROLL) Posts Earnings Results, Beats Expectations By $0.14 EPS

RBC Bearings (NASDAQ:ROLL) issued its quarterly earnings results on Friday. The industrial products company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14, MarketWatch Earnings reports. The business had revenue of $172.92 million during the quarter, compared to analyst estimates of $174.30 million. RBC Bearings had a net margin of 13.51% and a return on equity of 12.29%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. RBC Bearings updated its Q3 2019 guidance to EPS.

Shares of NASDAQ:ROLL opened at $168.34 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.79 and a quick ratio of 2.12. The firm has a market capitalization of $4.14 billion, a P/E ratio of 37.41, a P/E/G ratio of 6.07 and a beta of 1.36. RBC Bearings has a 12-month low of $111.61 and a 12-month high of $169.84.

In other RBC Bearings news, VP Richard J. Edwards sold 20,130 shares of RBC Bearings stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $139.31, for a total value of $2,804,310.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Hartnett sold 5,500 shares of RBC Bearings stock in a transaction on Monday, September 10th. The stock was sold at an average price of $154.04, for a total transaction of $847,220.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,886 shares of company stock valued at $42,266,095. 3.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ROLL. Wasatch Advisors Inc. boosted its holdings in RBC Bearings by 14.6% in the second quarter. Wasatch Advisors Inc. now owns 1,489,038 shares of the industrial products company’s stock worth $191,803,000 after purchasing an additional 189,861 shares during the period. Janus Henderson Group PLC boosted its holdings in RBC Bearings by 16.9% in the second quarter. Janus Henderson Group PLC now owns 554,654 shares of the industrial products company’s stock worth $71,445,000 after purchasing an additional 80,370 shares during the period. Wells Fargo & Company MN boosted its holdings in RBC Bearings by 12.2% in the third quarter. Wells Fargo & Company MN now owns 719,498 shares of the industrial products company’s stock worth $108,184,000 after purchasing an additional 78,043 shares during the period. BlackRock Inc. boosted its holdings in RBC Bearings by 2.6% in the second quarter. BlackRock Inc. now owns 2,203,042 shares of the industrial products company’s stock worth $283,774,000 after purchasing an additional 55,182 shares during the period. Finally, Standard Life Aberdeen plc boosted its holdings in RBC Bearings by 15.5% in the second quarter. Standard Life Aberdeen plc now owns 310,004 shares of the industrial products company’s stock worth $39,932,000 after purchasing an additional 41,703 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on ROLL. BidaskClub upgraded shares of RBC Bearings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Zacks Investment Research lowered shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Thursday, September 27th. Finally, Royal Bank of Canada restated a “sell” rating on shares of RBC Bearings in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $142.80.

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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Earnings History for RBC Bearings (NASDAQ:ROLL)

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