Rockwell Automation (NYSE:ROK) Releases FY24 Earnings Guidance

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

A number of research firms have commented on ROK. Citigroup reduced their price objective 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. Oppenheimer decreased their price target 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. JPMorgan Chase & Co. restated an underweight rating and set a $254.00 price objective on shares of Rockwell Automation in a research report on Thursday, March 21st. Berenberg Bank reaffirmed 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 dropped their price target on Rockwell Automation from $265.00 to $260.00 and set an underweight rating for the company in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $308.36.

Rockwell Automation Price Performance

Shares of NYSE:ROK traded up $1.49 during trading on Wednesday, reaching $273.53. 1,101,228 shares of the company traded hands, compared to its average volume of 1,019,818. The firm has a market capitalization of $31.34 billion, a PE ratio of 25.97, a PEG 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. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $281.90 and its two-hundred day moving average is $283.11.

Rockwell Automation (NYSE:ROK) last posted its quarterly 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 return on equity of 37.22% and a net margin of 13.35%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $3.01 earnings per share. Rockwell Automation’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Rockwell Automation will post 11.98 earnings per share for the current year.

Rockwell Automation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 13th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, May 10th. This represents a $5.00 annualized dividend and a yield of 1.83%. Rockwell Automation’s dividend payout ratio is currently 47.57%.

Insider Activity

In related news, CEO Blake D. Moret bought 3,500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was purchased 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 owns 77,215 shares of the company’s stock, valued at $21,901,262.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Blake D. Moret acquired 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $283.64 per share, with a total value of $992,740.00. Following the acquisition, the chief executive officer now directly owns 77,215 shares in the company, valued at approximately $21,901,262.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Isaac Woods sold 150 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $287.59, for a total value of $43,138.50. Following the sale, the vice president now owns 1,199 shares in the company, valued at approximately $344,820.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,240 shares of company stock worth $4,891,324. Insiders own 0.68% of the company’s stock.

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.