RBC Bearings (NASDAQ:ROLL) Announces Earnings Results, Beats Expectations By $0.04 EPS

RBC Bearings (NASDAQ:ROLL) issued its quarterly earnings results on Thursday. The industrial products company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.04, Briefing.com reports. The firm had revenue of $182.69 million during the quarter, compared to analysts’ expectations of $183.13 million. RBC Bearings had a net margin of 14.97% and a return on equity of 13.01%. RBC Bearings’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. RBC Bearings updated its Q2 2020 guidance to EPS.

Shares of ROLL stock traded up $1.46 during mid-day trading on Friday, hitting $161.94. The stock had a trading volume of 102,817 shares, compared to its average volume of 80,025. RBC Bearings has a fifty-two week low of $123.50 and a fifty-two week high of $171.54. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 5.22 and a beta of 1.26. The company has a current ratio of 5.58, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $162.19.

In other news, Director Alan B. Levine sold 800 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $167.58, for a total value of $134,064.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Patrick S. Bannon sold 1,693 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $147.00, for a total transaction of $248,871.00. The disclosure for this sale can be found here. Insiders sold a total of 21,300 shares of company stock valued at $3,300,870 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ROLL. Kavar Capital Partners LLC acquired a new stake in shares of RBC Bearings in the 2nd quarter worth $32,000. Ellis Investment Partners LLC purchased a new position in shares of RBC Bearings in the 1st quarter valued at about $62,000. Quadrant Capital Group LLC increased its holdings in shares of RBC Bearings by 180.7% in the 1st quarter. Quadrant Capital Group LLC now owns 553 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 356 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of RBC Bearings by 39.7% in the 4th quarter. Advisory Services Network LLC now owns 577 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of RBC Bearings in the 1st quarter valued at about $86,000. Institutional investors own 97.88% of the company’s stock.

ROLL has been the subject of a number of recent research reports. BidaskClub cut shares of RBC Bearings from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. SunTrust Banks increased their price target on shares of RBC Bearings to $137.00 and gave the stock a “hold” rating in a research note on Friday, May 24th. William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Friday, May 24th. Zacks Investment Research upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, ValuEngine upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. RBC Bearings presently has an average rating of “Hold” and a consensus target price of $161.33.

RBC Bearings Company Profile

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.

Further Reading: Dividend Stocks – Are They Right For You?

Earnings History for RBC Bearings (NASDAQ:ROLL)

Receive News & Ratings for RBC Bearings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RBC Bearings and related companies with MarketBeat.com's FREE daily email newsletter.