Rockwell Automation (NYSE:ROK) Updates 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.

Analyst Ratings Changes

Several research firms have recently commented on ROK. Citigroup lowered their target price 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. Robert W. Baird dropped their price objective on shares of Rockwell Automation from $310.00 to $304.00 and set an outperform rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on Rockwell Automation from $320.00 to $312.00 and set an overweight rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reissued an underweight rating and set a $254.00 price target on shares of Rockwell Automation in a research note on Thursday, March 21st. Finally, Oppenheimer reduced their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Rockwell Automation has a consensus rating of Hold and an average target price of $308.36.

Rockwell Automation Stock Up 0.5 %

Shares of NYSE ROK traded up $1.49 during mid-day trading on Wednesday, hitting $273.53. The company had a trading volume of 1,101,228 shares, compared to its average volume of 1,019,818. The company has a market capitalization of $31.34 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. The business’s 50-day simple moving average is $281.90 and its 200 day simple moving average is $283.11. Rockwell Automation has a 1-year low of $252.11 and a 1-year high of $348.52. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.25 and a quick ratio of 0.80.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The company’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.01 EPS. On average, analysts predict that Rockwell Automation will post 11.98 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 13th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, May 10th. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insider Buying and Selling at Rockwell Automation

In related news, VP Scott Genereux sold 500 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $280.52, for a total value of $140,260.00. Following the completion of the sale, the vice president now owns 4,383 shares in the company, valued at approximately $1,229,519.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Blake D. Moret bought 3,500 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 77,215 shares in the company, valued at $21,901,262.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott Genereux sold 500 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $280.52, for a total value of $140,260.00. Following the transaction, the vice president now directly owns 4,383 shares of the company’s stock, valued at $1,229,519.16. The disclosure for this sale can be found here. Insiders sold 17,240 shares of company stock worth $4,891,324 over the last 90 days. 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.