Rockwell Automation (NYSE:ROK) Releases FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK) updated its FY24 earnings guidance on Tuesday. 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 equities analysts have commented on the stock. Mizuho cut their price target on shares of Rockwell Automation from $265.00 to $260.00 and set a neutral rating for the company in a research note on Wednesday. Citigroup cut their price target on shares of Rockwell Automation from $322.00 to $316.00 and set a buy rating for the company in a research note on Wednesday. Oppenheimer reduced their target price on shares of Rockwell Automation from $324.00 to $300.00 and set an outperform rating on the stock in a report on Thursday, February 1st. Berenberg Bank reaffirmed 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. Finally, Wells Fargo & Company cut their target price on shares of Rockwell Automation from $320.00 to $312.00 and set an overweight rating on the stock in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $307.93.

Rockwell Automation Trading Down 1.1 %

Shares of NYSE ROK traded down $3.02 during trading hours on Thursday, reaching $270.57. The stock had a trading volume of 747,696 shares, compared to its average volume of 1,019,961. The business’s fifty day moving average price is $281.90 and its two-hundred day moving average price is $283.11. The company has a current ratio of 1.25, a quick ratio of 0.80 and a debt-to-equity ratio of 0.76. The firm has a market cap of $31.00 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 2.77 and a beta of 1.43. Rockwell Automation has a 52-week low of $252.11 and a 52-week high of $348.52.

Rockwell Automation (NYSE:ROK) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.05 billion. Rockwell Automation had a return on equity of 37.22% and a net margin of 13.35%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.01 EPS. Analysts expect that Rockwell Automation will post 11.98 EPS for the current fiscal year.

Rockwell Automation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, May 10th. Rockwell Automation’s dividend payout ratio (DPR) is 47.57%.

Insider Transactions at Rockwell Automation

In related news, SVP Rebecca W. House sold 13,900 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $283.02, for a total value of $3,933,978.00. Following the transaction, the senior vice president now owns 8,482 shares of the company’s stock, valued at $2,400,575.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rockwell Automation news, CEO Blake D. Moret purchased 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $283.64 per share, for a total transaction of $992,740.00. Following the completion of the purchase, 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 document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca W. House sold 13,900 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $283.02, for a total value of $3,933,978.00. Following the sale, the senior vice president now owns 8,482 shares in the company, valued at $2,400,575.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,240 shares of company stock valued at $4,891,324. 0.68% of the stock is currently owned by company insiders.

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.