Rockwell Automation (ROK) Set to Announce Quarterly Earnings on Tuesday

Rockwell Automation (NYSE:ROK) is set to announce its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $2.15 per share for the quarter. Rockwell Automation has set its FY 2024 guidance at 12.000-13.500 EPS and its FY24 guidance at $12.00-13.50 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.58). Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $2.46 EPS. On average, analysts expect Rockwell Automation to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Rockwell Automation Stock Performance

ROK stock traded down $2.68 during midday trading on Tuesday, reaching $277.29. 68,568 shares of the company’s stock traded hands, compared to its average volume of 1,001,098. The firm has a market capitalization of $31.77 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.43. The company has a 50-day moving average price of $282.51 and a two-hundred day moving average price of $283.46. Rockwell Automation has a 52 week low of $252.11 and a 52 week high of $348.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.25.

Rockwell Automation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.80%. Rockwell Automation’s payout ratio is 47.57%.

Analyst Ratings Changes

Several brokerages have commented on ROK. Oppenheimer cut their target price on Rockwell Automation from $324.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. UBS Group raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $305.00 to $360.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company decreased their target price on shares of Rockwell Automation from $357.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $254.00 price target on shares of Rockwell Automation in a report on Thursday, March 21st. Finally, Citigroup decreased their price target on shares of Rockwell Automation from $330.00 to $322.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $310.08.

Insiders Place Their Bets

In other Rockwell Automation news, CEO Blake D. Moret purchased 3,500 shares of Rockwell Automation stock in a transaction on Monday, February 12th. The shares were acquired at an average cost of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the transaction, the chief executive officer now directly owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Blake D. Moret acquired 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the acquisition, the chief executive officer now owns 77,215 shares in the company, valued at $21,901,262.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian A. Shepherd sold 637 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $262.87, for a total value of $167,448.19. Following the sale, the vice president now owns 5,088 shares of the company’s stock, valued at $1,337,482.56. The disclosure for this sale can be found here. Insiders sold a total of 17,877 shares of company stock valued at $5,058,772 over the last 90 days. Insiders own 0.68% of the company’s stock.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.