Rockwell Automation (NYSE:ROK) Issues FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $10.00-11.00 for the period, compared to the consensus EPS estimate of $11.87. The company issued revenue guidance of ~$8.51-$8.69 billion, compared to the consensus revenue estimate of $9.08 billion.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Rockwell Automation from $357.00 to $320.00 and set an overweight rating for the company in a research note on Thursday, February 1st. Citigroup decreased their price target on shares of Rockwell Automation from $330.00 to $322.00 and set a buy rating for the company in a research report on Monday, April 8th. JPMorgan Chase & Co. reiterated an underweight rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Berenberg Bank reissued a hold rating and issued a $290.00 target price (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Finally, Barclays reduced their price target on shares of Rockwell Automation from $269.00 to $265.00 and set an underweight rating on the stock in a research report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $310.08.

Rockwell Automation Stock Up 1.3 %

ROK stock opened at $277.50 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.25 and a quick ratio of 0.80. The firm has a market cap of $31.80 billion, a PE ratio of 26.40, a P/E/G ratio of 2.77 and a beta of 1.43. Rockwell Automation has a 12 month low of $252.11 and a 12 month high of $348.52. The firm has a 50 day simple moving average of $282.08 and a 200 day simple moving average of $283.07.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. Rockwell Automation’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.01 earnings per share. Equities research analysts forecast that Rockwell Automation will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a dividend yield of 1.80%. Rockwell Automation’s dividend payout ratio (DPR) is presently 47.57%.

Insider Buying and Selling

In related news, VP Isaac Woods sold 150 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $287.59, for a total transaction of $43,138.50. Following the completion of the sale, the vice president now directly owns 1,199 shares in the company, valued at $344,820.41. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Rockwell Automation news, VP Isaac Woods sold 150 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $287.59, for a total value of $43,138.50. Following the transaction, the vice president now owns 1,199 shares in the company, valued at $344,820.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Blake D. Moret bought 3,500 shares of the company’s stock in a transaction on Monday, February 12th. The stock was purchased 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 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 ninety days, insiders sold 17,240 shares of company stock valued at $4,891,324. Corporate 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.