Rockwell Automation, Inc. (NYSE:ROK) Expected to Announce Earnings of $2.37 Per Share

Wall Street brokerages expect that Rockwell Automation, Inc. (NYSE:ROKGet Rating) will announce earnings per share of $2.37 for the current quarter, Zacks reports. Four analysts have issued estimates for Rockwell Automation’s earnings, with the highest EPS estimate coming in at $2.44 and the lowest estimate coming in at $2.30. Rockwell Automation posted earnings per share of $2.31 during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Rockwell Automation will report full-year earnings of $9.47 per share for the current year, with EPS estimates ranging from $9.02 to $10.86. For the next fiscal year, analysts anticipate that the company will post earnings of $10.99 per share, with EPS estimates ranging from $10.05 to $12.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Rockwell Automation.

Rockwell Automation (NYSE:ROKGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The industrial products company reported $1.66 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.61). Rockwell Automation had a return on equity of 35.96% and a net margin of 8.81%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $2.41 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis.

A number of analysts recently commented on ROK shares. Deutsche Bank Aktiengesellschaft decreased their target price on Rockwell Automation from $318.00 to $292.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. TheStreet lowered Rockwell Automation from a “b-” rating to a “c” rating in a report on Tuesday, May 3rd. Oppenheimer decreased their price objective on Rockwell Automation from $360.00 to $290.00 in a report on Wednesday, May 4th. StockNews.com assumed coverage on Rockwell Automation in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Mizuho cut their target price on Rockwell Automation from $345.00 to $215.00 in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and an average price target of $274.88.

ROK stock opened at $198.18 on Wednesday. Rockwell Automation has a 1-year low of $191.07 and a 1-year high of $354.99. The firm has a market cap of $23.04 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 2.52 and a beta of 1.41. The stock has a 50-day moving average price of $249.03 and a 200-day moving average price of $290.36. The company has a current ratio of 1.09, a quick ratio of 0.78 and a debt-to-equity ratio of 1.18.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Monday, May 16th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $4.48 annualized dividend and a dividend yield of 2.26%. Rockwell Automation’s dividend payout ratio is currently 81.45%.

Rockwell Automation announced that its board has initiated a stock repurchase program on Tuesday, May 3rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Patricia A. Watson bought 1,110 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were purchased at an average price of $219.58 per share, for a total transaction of $243,733.80. Following the completion of the transaction, the director now directly owns 4,827 shares in the company, valued at approximately $1,059,912.66. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its holdings in shares of Rockwell Automation by 64.3% in the fourth quarter. Harbor Investment Advisory LLC now owns 92 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 36 shares during the period. Covestor Ltd bought a new position in shares of Rockwell Automation in the fourth quarter worth $35,000. Capital Advisory Group Advisory Services LLC bought a new position in shares of Rockwell Automation in the first quarter worth $28,000. Roble Belko & Company Inc increased its holdings in shares of Rockwell Automation by 3,233.3% in the first quarter. Roble Belko & Company Inc now owns 100 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Finally, Dixon Hughes Goodman Wealth Advisors LLC increased its holdings in shares of Rockwell Automation by 419.0% in the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 109 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 88 shares during the period. 78.21% of the stock is currently owned by hedge funds and other institutional investors.

About Rockwell Automation (Get Rating)

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in the United States and internationally. The company operates in three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products, and services.

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