Rockwell Automation (NYSE:ROK) Updates FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Rockwell Automation Stock Down 1.1 %

ROK stock opened at $270.50 on Friday. Rockwell Automation has a 52 week low of $252.11 and a 52 week high of $348.52. 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’s 50-day moving average is $281.65 and its two-hundred day moving average is $283.04. The company has a market capitalization of $31.00 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43.

Rockwell Automation (NYSE:ROK) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period 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. On average, analysts forecast that Rockwell Automation will post 11.98 earnings per share for the current fiscal year.

Rockwell Automation Dividend Announcement

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

Analyst Ratings Changes

ROK has been the subject of several research analyst reports. Robert W. Baird reduced their price objective on Rockwell Automation from $310.00 to $304.00 and set an outperform rating for the company in a research note on Wednesday. Wells Fargo & Company cut their price objective on Rockwell Automation from $320.00 to $312.00 and set an overweight rating for the company in a report on Wednesday. Berenberg Bank reissued a hold rating and issued a $290.00 target price (down from $330.00) on shares of Rockwell Automation in a research report on Wednesday, March 6th. Citigroup reduced their target price on Rockwell Automation from $322.00 to $316.00 and set a buy rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an underweight rating and issued a $254.00 price target on shares of Rockwell Automation in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $307.93.

Insider Activity at Rockwell Automation

In other news, SVP Rebecca W. House sold 13,900 shares of Rockwell Automation stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $283.02, for a total transaction of $3,933,978.00. Following the transaction, the senior vice president now directly owns 8,482 shares of the company’s stock, valued at $2,400,575.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Rockwell Automation news, SVP Rebecca W. House sold 13,900 shares of Rockwell Automation stock in a transaction dated 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 of the company’s stock, valued at approximately $2,400,575.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott Genereux sold 500 shares of Rockwell Automation stock in a transaction that occurred on Monday, March 4th. The shares were 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 directly owns 2,383 shares in the company, valued at approximately $691,070. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,240 shares of company stock worth $4,891,324. 0.68% of the stock is owned by 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.