KeyCorp Analysts Cut Earnings Estimates for RBC Bearings Incorporated (ROLL)

RBC Bearings Incorporated (NASDAQ:ROLL) – Investment analysts at KeyCorp decreased their Q1 2019 EPS estimates for RBC Bearings in a report issued on Tuesday, June 5th. KeyCorp analyst S. Barger now expects that the industrial products company will earn $1.05 per share for the quarter, down from their prior forecast of $1.07. KeyCorp also issued estimates for RBC Bearings’ Q2 2019 earnings at $1.10 EPS, Q3 2019 earnings at $1.15 EPS, Q4 2019 earnings at $1.30 EPS, Q1 2020 earnings at $1.20 EPS, Q2 2020 earnings at $1.26 EPS, Q3 2020 earnings at $1.30 EPS, Q4 2020 earnings at $1.47 EPS and FY2020 earnings at $5.23 EPS.

Several other equities analysts also recently commented on ROLL. BidaskClub upgraded shares of RBC Bearings from a “sell” rating to a “hold” rating in a research note on Wednesday, March 14th. Zacks Investment Research downgraded shares of RBC Bearings from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, William Blair restated an “outperform” rating on shares of RBC Bearings in a research note on Thursday, May 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. RBC Bearings currently has an average rating of “Buy” and a consensus target price of $141.00.

RBC Bearings opened at $130.23 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 4.60. RBC Bearings has a 52 week low of $98.55 and a 52 week high of $139.95. The stock has a market capitalization of $3.14 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 4.71 and a beta of 1.30.

RBC Bearings (NASDAQ:ROLL) last released its quarterly earnings results on Wednesday, May 30th. The industrial products company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.05). RBC Bearings had a net margin of 12.91% and a return on equity of 11.96%. The business had revenue of $179.90 million during the quarter, compared to analyst estimates of $175.57 million. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis.

In other RBC Bearings news, Director Amir Faghri sold 4,500 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $125.31, for a total transaction of $563,895.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Hartnett sold 105,202 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $128.34, for a total transaction of $13,501,624.68. The disclosure for this sale can be found here. Insiders sold 172,844 shares of company stock worth $22,135,546 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ROLL. Wasatch Advisors Inc. grew its stake in RBC Bearings by 8.4% during the first quarter. Wasatch Advisors Inc. now owns 1,299,177 shares of the industrial products company’s stock worth $161,358,000 after buying an additional 100,505 shares in the last quarter. BlackRock Inc. grew its stake in RBC Bearings by 3.9% during the first quarter. BlackRock Inc. now owns 2,147,860 shares of the industrial products company’s stock worth $266,764,000 after buying an additional 81,173 shares in the last quarter. Cortina Asset Management LLC acquired a new stake in RBC Bearings during the fourth quarter worth about $9,120,000. Goldman Sachs Group Inc. grew its stake in RBC Bearings by 22.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 352,148 shares of the industrial products company’s stock worth $44,511,000 after buying an additional 64,511 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in RBC Bearings by 150.4% during the fourth quarter. Deutsche Bank AG now owns 53,931 shares of the industrial products company’s stock worth $6,815,000 after buying an additional 32,396 shares in the last quarter. Hedge funds and other institutional investors own 97.80% of the company’s stock.