Rockwell Automation (NYSE:ROK) Releases FY 2024 Earnings Guidance

Rockwell Automation (NYSE:ROK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 10.000-11.000 for the period, compared to the consensus EPS estimate of 11.920. The company issued revenue guidance of $8.5 billion-$8.7 billion, compared to the consensus revenue estimate of $9.1 billion.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ROK. Oppenheimer lowered their target price on Rockwell Automation from $324.00 to $300.00 and set an outperform rating on the stock in a research note on Thursday, February 1st. Mizuho decreased their target price on shares of Rockwell Automation from $265.00 to $260.00 and set a neutral rating on the stock in a research report on Wednesday. Berenberg Bank reiterated a hold rating and issued a $290.00 price target (down from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. Robert W. Baird lowered their price objective on Rockwell Automation from $310.00 to $304.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reiterated an underweight rating and set a $254.00 target price on shares of Rockwell Automation in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rockwell Automation currently has an average rating of Hold and an average target price of $309.29.

Rockwell Automation Trading Down 1.4 %

Shares of Rockwell Automation stock traded down $3.73 on Wednesday, hitting $268.31. The stock had a trading volume of 361,558 shares, compared to its average volume of 1,011,608. The stock has a 50 day moving average of $281.90 and a 200 day moving average of $283.11. The firm has a market capitalization of $30.75 billion, a P/E ratio of 25.88, a PEG ratio of 2.77 and a beta of 1.43. Rockwell Automation has a twelve month low of $252.11 and a twelve month 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 (NYSE:ROK) last announced its quarterly earnings results on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.35. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the company posted $3.01 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Sell-side analysts expect that Rockwell Automation will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, May 10th. Rockwell Automation’s dividend payout ratio is presently 47.57%.

Insider Transactions at Rockwell Automation

In other news, CEO Blake D. Moret purchased 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the transaction, the chief executive officer now owns 77,215 shares of the company’s stock, valued at approximately $21,901,262.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $280.52, for a total transaction of $140,260.00. Following the transaction, the vice president now owns 4,383 shares in the company, valued at $1,229,519.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Blake D. Moret bought 3,500 shares of Rockwell Automation stock in a transaction dated Monday, February 12th. The stock was purchased at an average price of $283.64 per share, with a total value of $992,740.00. Following the completion of the purchase, the chief executive officer now owns 77,215 shares in the company, valued at $21,901,262.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 17,240 shares of company stock worth $4,891,324. Company insiders own 0.68% of the company’s stock.

Rockwell Automation Company Profile

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.