Blog

Nov 06, 2024

RBC Bearings (NYSE:RBC) Posts Earnings Results, Misses Estimates By $0.01 EPS

RBC Bearings (NYSE:RBC - Get Free Report) posted its quarterly earnings results on Friday. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the

RBC Bearings (NYSE:RBC - Get Free Report) posted its quarterly earnings results on Friday. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.01), Briefing.com reports. The company had revenue of $397.90 million during the quarter, compared to the consensus estimate of $403.89 million. RBC Bearings had a return on equity of 9.88% and a net margin of 14.06%. The firm's revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share. RBC Bearings updated its Q3 2025 guidance to EPS.

Shares of RBC Bearings stock opened at $285.02 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.48 and a quick ratio of 1.28. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 3.26 and a beta of 1.51. RBC Bearings has a one year low of $214.64 and a one year high of $309.01. The stock's 50-day moving average is $289.89 and its 200-day moving average is $281.58.

Separately, Truist Financial decreased their target price on RBC Bearings from $328.00 to $315.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, RBC Bearings currently has an average rating of "Moderate Buy" and a consensus price target of $287.67.

View Our Latest Stock Report on RBC Bearings

In related news, VP Richard J. Edwards sold 4,200 shares of RBC Bearings stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the transaction, the vice president now owns 12,539 shares in the company, valued at approximately $3,669,789.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other RBC Bearings news, CEO Michael J. Hartnett sold 11,341 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $287.52, for a total transaction of $3,260,764.32. Following the transaction, the chief executive officer now owns 320,053 shares in the company, valued at $92,021,638.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard J. Edwards sold 4,200 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $292.67, for a total transaction of $1,229,214.00. Following the completion of the sale, the vice president now directly owns 12,539 shares of the company's stock, valued at approximately $3,669,789.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,327 shares of company stock worth $11,068,921. 2.60% of the stock is owned by corporate insiders.

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.

Before you consider RBC Bearings, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RBC Bearings wasn't on the list.

While RBC Bearings currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools.