Rockwell Automation (NYSE:ROK) Releases FY24 Earnings Guidance

Rockwell Automation (NYSE:ROK) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $9.60 for the period, compared to the consensus earnings per share estimate of $10.12. The company issued revenue guidance of decline of 8.5% yr/yr to $8.29 billion, compared to the consensus revenue estimate of $8.56 billion.

Rockwell Automation Stock Performance

ROK stock traded up $2.88 during midday trading on Wednesday, reaching $253.65. The stock had a trading volume of 345,842 shares, compared to its average volume of 961,694. The firm has a fifty day simple moving average of $265.39 and a two-hundred day simple moving average of $274.76. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.11. The stock has a market cap of $28.92 billion, a PE ratio of 24.51, a P/E/G ratio of 4.71 and a beta of 1.37. Rockwell Automation has a 52-week low of $242.81 and a 52-week high of $317.74.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.63. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a return on equity of 34.83% and a net margin of 13.19%. Rockwell Automation’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.01 EPS. As a group, equities research analysts anticipate that Rockwell Automation will post 10.07 EPS for the current year.

Rockwell Automation Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Monday, August 12th. Rockwell Automation’s dividend payout ratio is presently 48.88%.

Wall Street Analysts Forecast Growth

ROK has been the topic of several research analyst reports. Barclays dropped their target price on shares of Rockwell Automation from $250.00 to $245.00 and set an underweight rating on the stock in a research report on Wednesday, July 10th. Loop Capital cut their price objective on shares of Rockwell Automation from $300.00 to $290.00 and set a hold rating for the company in a report on Tuesday, May 14th. Citigroup reduced their target price on shares of Rockwell Automation from $322.00 to $316.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Wells Fargo & Company dropped their price target on shares of Rockwell Automation from $312.00 to $305.00 and set an overweight rating for the company in a research note on Wednesday, July 10th. Finally, Robert W. Baird decreased their price objective on Rockwell Automation from $310.00 to $304.00 and set an outperform rating on the stock in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have given 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 an average rating of Hold and a consensus target price of $294.17.

Insider Activity at Rockwell Automation

In other Rockwell Automation news, VP John M. Miller sold 467 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $273.27, for a total value of $127,617.09. Following the sale, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP John M. Miller sold 467 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $273.27, for a total transaction of $127,617.09. Following the completion of the transaction, the vice president now directly owns 4,800 shares of the company’s stock, valued at approximately $1,311,696. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cyril Perducat sold 659 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $260.11, for a total value of $171,412.49. Following the sale, the senior vice president now directly owns 4,630 shares in the company, valued at approximately $1,204,309.30. The disclosure for this sale can be found here. Insiders have sold a total of 2,199 shares of company stock valued at $572,750 over the last 90 days. 0.68% of the stock is 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.