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RBC Bearings (RBC) Surges 4.0%: Is This an Indication of Further Gains?
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RBC Bearings (RBC - Free Report) shares rallied 4% in the last trading session to close at $387.73. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% loss over the past four weeks.
RBC Bearings’ rally is primarily driven by optimism about its strength in the Industrial segment. Solid momentum in this segment, driven by strength in mining, metals, food and beverage markets, bodes well for the company. Also, solid momentum in the commercial aerospace market, backed by strong growth in orders from the aftermarket verticals, augurs well.
This maker of bearings and components is expected to post quarterly earnings of $2.74 per share in its upcoming report, which represents a year-over-year change of +19.7%. Revenues are expected to be $451.32 million, up 13.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RBC Bearings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RBC going forward to see if this recent jump can turn into more strength down the road.
RBC Bearings belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, DXP Enterprises (DXPE - Free Report) , closed the last trading session 3% higher at $114.64. Over the past month, DXPE has returned -4.2%.
For DXP Enterprises, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.45. This represents a change of +1.4% from what the company reported a year ago. DXP Enterprises currently has a Zacks Rank of #3 (Hold).
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RBC Bearings (RBC) Surges 4.0%: Is This an Indication of Further Gains?
RBC Bearings (RBC - Free Report) shares rallied 4% in the last trading session to close at $387.73. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.9% loss over the past four weeks.
RBC Bearings’ rally is primarily driven by optimism about its strength in the Industrial segment. Solid momentum in this segment, driven by strength in mining, metals, food and beverage markets, bodes well for the company. Also, solid momentum in the commercial aerospace market, backed by strong growth in orders from the aftermarket verticals, augurs well.
This maker of bearings and components is expected to post quarterly earnings of $2.74 per share in its upcoming report, which represents a year-over-year change of +19.7%. Revenues are expected to be $451.32 million, up 13.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For RBC Bearings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RBC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
RBC Bearings belongs to the Zacks Manufacturing - General Industrial industry. Another stock from the same industry, DXP Enterprises (DXPE - Free Report) , closed the last trading session 3% higher at $114.64. Over the past month, DXPE has returned -4.2%.
For DXP Enterprises, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.45. This represents a change of +1.4% from what the company reported a year ago. DXP Enterprises currently has a Zacks Rank of #3 (Hold).