Rockwell Automation (NYSE:ROK) Releases FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $10.00-11.00 for the period, compared to the consensus earnings per share 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 Analyst Weigh In

A number of research analysts recently issued reports on ROK shares. Barclays lowered their price target on shares of Rockwell Automation from $269.00 to $265.00 and set an underweight rating for the company in a research report on Tuesday, April 2nd. Mizuho cut their target price on Rockwell Automation from $300.00 to $265.00 and set a neutral rating on the stock in a research note on Thursday, February 1st. Berenberg Bank reissued a hold rating and set a $290.00 price target (down previously from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Wells Fargo & Company lowered their price objective on Rockwell Automation from $357.00 to $320.00 and set an overweight rating on the stock in a research report on Thursday, February 1st. Finally, Oppenheimer reduced their target price on Rockwell Automation from $324.00 to $300.00 and set an outperform rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $310.08.

Rockwell Automation Stock Performance

Shares of NYSE ROK traded down $5.35 during midday trading on Tuesday, hitting $272.04. 2,375,570 shares of the company's stock traded hands, compared to its average volume of 1,019,828. The firm has a fifty day moving average of $281.90 and a 200 day moving average of $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 quick ratio of 0.80 and a current ratio of 1.25. The stock has a market capitalization of $31.17 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43.

Rockwell Automation (NYSE:ROK - Get Free Report) last announced its earnings results on Tuesday, May 7th. The industrial products company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.35. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The business 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 earned $3.01 earnings per share. The firm's revenue was down 6.6% on a year-over-year basis. On average, analysts forecast that Rockwell Automation will post 11.98 earnings per share for the current year.

Rockwell Automation Announces Dividend

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 dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $5.00 annualized dividend and a yield of 1.84%. Rockwell Automation's dividend payout ratio (DPR) is presently 47.57%.

Insiders Place Their Bets

In related news, CEO Blake D. Moret acquired 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average cost of $283.64 per share, with a total value of $992,740.00. Following the transaction, 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 is accessible through the SEC website. In other Rockwell Automation news, VP Scott Genereux sold 500 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $290.00, for a total value of $145,000.00. Following the completion of the sale, the vice president now owns 2,383 shares in the company, valued at approximately $691,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Blake D. Moret acquired 3,500 shares of the stock in a transaction dated Monday, February 12th. The stock was acquired at an average price 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 disclosure for this purchase can be found here. Insiders sold a total of 17,240 shares of company stock worth $4,891,324 over the last quarter. 0.68% of the stock is currently owned by corporate insiders.

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.