RBC Bearings (ROLL) got here out with quarterly earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.07 per share. This compares to earnings of $1.33 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 0.93%. 1 / 4 in the past, it was anticipated that this maker of bearings and elements would put up earnings of $0.85 per share when it really produced earnings of $0.90, delivering a shock of 5.88%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
RBC Bearings, which belongs to the Zacks Manufacturing – Common Industrial trade, posted revenues of $160.three million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 0.83%. This compares to year-ago revenues of $185.84 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s quick value motion primarily based on the recently-released numbers and future earnings expectations will largely rely upon administration’s commentary on the earnings name.
RBC Bearings shares have added about 5.4% because the starting of the 12 months versus the S&P 500’s achieve of 10.7%.
What’s Subsequent for RBC Bearings?
Whereas RBC Bearings has underperformed the market thus far this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers tackle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified these days.
Empirical analysis exhibits a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for RBC Bearings was unfavorable. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You may see the entire record of as we speak’s Zacks #1 Rank (Robust Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $1.02 on $157.43 million in revenues for the approaching quarter and $4.41 on $653.55 million in revenues for the present fiscal 12 months.
Buyers ought to be conscious of the truth that the outlook for the trade can have a fabric impression on the efficiency of the inventory as properly. By way of the Zacks Business Rank, Manufacturing – Common Industrial is at present within the high 34% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.