RBC Stock Recent News

Leverages full-breadth of BlackRock's alpha-seeking expertise and ETF capabilities to deliver choice, transparency, and flexibility to clients Leverages full-breadth of BlackRock's alpha-seeking expertise and ETF capabilities to deliver choice, transparency, and flexibility to clients

On Friday, September 20, RBC Capital Markets downgraded Rapid7 (NASDAQ: RPD) from “Outperform” to “Sector Perform” and lowered its price target from $50 to $40. This move reflects rising concerns over the increasingly competitive landscape of the vulnerability management (VM) market, where Rapid7 is a major player.

Royal Bank of Canada (TSX:RY) surpassed analysts' expectations for its fiscal third-quarter profit, reporting earnings of $3.26 per share, above the forecasted $2.97. The strong performance was driven by a 17% rise in earnings from its personal and commercial banking segment, totaling C$2.49 billion, bolstered by the recent acquisition of HSBC's Canadian assets.

In his latest research note, analyst Gerard Cassidy confirms his positive recommendation. The broker RBC is keeping its Buy rating. The target price remains set at USD 211.

's Revenue Details In the quarter under review, RBC Bearings' revenues were $413.7 million, which increased 4.9% year over year. However, the figure missed the Zacks Consensus Estimate of $416 million. While exiting the reported quarter, RBC had a backlog of $726.1 million, up 9.4% year over year. For fiscal 2024, the company's revenues came in at $1.56 billion, up 6.2% year over year. It reported adjusted earnings of $8.62, reflecting an increase of 15.2% on a year-over-year basis. Segmental Details The company currently has two reportable segments, namely Aerospace/Defense and Industrial. Its segmental performance for the fiscal fourth quarter is briefly discussed below: Industrial revenues of $271.4 million (representing 65.6% of the quarter's revenues) were down 0.4% year over year. Aerospace/Defense revenues totaled $142.3 million (34.4%), up 16.8% year over year. Margin Profile In the reported quarter, the company's cost of sales rose 3.2% year over year to $235.4 million. Gross

RBC Bearings (RBC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Here is how RBC Bearings (ROLL) and Silgan Holdings (SLGN) have performed compared to their sector so far this year.

RBC Bearings (ROLL) is benefiting from strength in its Aerospace/Defense and Industrial segments, acquired assets and shareholder-friendly measures.

RBC Bearings (ROLL) is well positioned to outperform the market, as it exhibits above-average growth in financials.

BFC, ROLL and LNG made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 23, 2022.