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

Rockwell Automation (NYSE:ROK - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 10.000-11.000 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of Rockwell Automation from $265.00 to $260.00 and set an underweight rating on the stock in a report on Wednesday. Oppenheimer reduced their price objective on shares of Rockwell Automation from $324.00 to $300.00 and set an outperform rating on the stock in a research note on Thursday, February 1st. Berenberg Bank reissued a hold rating and set a $290.00 price objective (down previously from $330.00) on shares of Rockwell Automation in a research note on Wednesday, March 6th. JPMorgan Chase & Co. reissued an underweight rating and set a $254.00 price objective on shares of Rockwell Automation in a research note on Thursday, March 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Rockwell Automation from $320.00 to $312.00 and set an overweight rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $307.93.

Rockwell Automation Trading Up 0.6 %

Shares of Rockwell Automation stock traded up $1.50 during trading hours on Wednesday, hitting $273.54. The company's stock had a trading volume of 1,355,362 shares, compared to its average volume of 1,023,598. Rockwell Automation has a 1-year low of $252.11 and a 1-year high of $348.52. The business has a fifty day moving average of $281.90 and a 200 day moving average of $283.11. The company has a market capitalization of $31.34 billion, a PE ratio of 26.03, a P/E/G ratio of 2.77 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76.

Rockwell Automation (NYSE:ROK - Get Free Report) 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. Rockwell Automation had a net margin of 13.35% and a return on equity of 37.22%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $3.01 earnings per share. The business's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities analysts forecast that Rockwell Automation will post 11.98 EPS for the current year.

Rockwell Automation Announces Dividend

The firm also recently disclosed 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. This represents a $5.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, May 10th. Rockwell Automation's payout ratio is currently 47.57%.

Insider Activity

In other news, SVP Robert L. Buttermore sold 201 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $277.50, for a total value of $55,777.50. Following the completion of the transaction, the senior vice president now directly owns 2,311 shares in the company, valued at $641,302.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Robert L. Buttermore sold 201 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $277.50, for a total value of $55,777.50. Following the completion of the transaction, the senior vice president now directly owns 2,311 shares in the company, valued at $641,302.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Isaac Woods sold 150 shares of the company's stock in a transaction 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 transaction, the vice president now owns 1,199 shares of the company's stock, valued at $344,820.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,240 shares of company stock worth $4,891,324. 0.68% of the stock is currently owned by company 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.