The Seaport Global Securities Equities Analysts Lift Earnings Estimates for RBC Bearings Incorporated (ROLL)

The Seaport Global Securities Equities Analysts Lift Earnings Estimates for RBC Bearings Incorporated (ROLL)

RBC Bearings Incorporated (NASDAQ:ROLL) – Equities research analysts at Seaport Global Securities increased their Q1 2018 EPS estimates for shares of RBC Bearings in a report released on Wednesday. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings of $0.81 per share for the quarter, up from their previous estimate of $0.76. Seaport Global Securities also issued estimates for RBC Bearings’ Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $1.03 EPS, FY2018 earnings at $3.48 EPS and FY2019 earnings at $3.93 EPS.

Separately, Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a report on Friday.

Separately, Zacks Investment Research upgraded shares of RBC Bearings from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a report on Friday. RBC Bearings (ROLL) opened at 106.25 on Monday. The firm’s 50-day moving average is $99.60 and its 200-day moving average is $93.43. The stock has a market cap of $2.51 billion, a P/E ratio of 36.91 and a beta of 1.17. RBC Bearings has a 1-year low of $67.99 and a 1-year high of $108.39.

RBC Bearings (NASDAQ:ROLL) last posted its quarterly earnings results on Wednesday, May 31st. The industrial products company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.02. The company had revenue of $160.20 million for the quarter, compared to the consensus estimate of $161.08 million. RBC Bearings had a net margin of 11.01% and a return on equity of 11.32%. RBC Bearings’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in RBC Bearings by 1,890.8% in the first quarter. Public Employees Retirement System of Ohio now owns 16,265 shares of the industrial products company’s stock worth $1,579,000 after buying an additional 15,448 shares during the period. Point72 Asset Management L.P. boosted its stake in RBC Bearings by 69.2% in the first quarter. Point72 Asset Management L.P. now owns 110,000 shares of the industrial products company’s stock worth $10,680,000 after buying an additional 45,000 shares during the period. State Street Corp boosted its stake in RBC Bearings by 4.5% in the first quarter. State Street Corp now owns 421,568 shares of the industrial products company’s stock worth $40,932,000 after buying an additional 17,970 shares during the period. Bank of America Corp DE boosted its stake in RBC Bearings by 5.1% in the first quarter. Bank of America Corp DE now owns 53,335 shares of the industrial products company’s stock worth $5,178,000 after buying an additional 2,578 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in RBC Bearings during the first quarter worth about $805,000.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ROLL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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