Brokerages expect Rockwell Automation (NYSE:ROK) to announce $1.65 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Rockwell Automation’s earnings. The lowest sales estimate is $1.62 billion and the highest is $1.69 billion. Rockwell Automation posted sales of $1.55 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The business is expected to report its next earnings results before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that Rockwell Automation will report full year sales of $6.72 billion for the current fiscal year, with estimates ranging from $6.66 billion to $6.80 billion. For the next fiscal year, analysts forecast that the business will post sales of $7.08 billion per share, with estimates ranging from $6.98 billion to $7.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Rockwell Automation.
Rockwell Automation (NYSE:ROK) last posted its earnings results on Wednesday, January 24th. The industrial products company reported $1.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.22. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. Rockwell Automation had a return on equity of 39.45% and a net margin of 5.85%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share.
ROK has been the topic of a number of research reports. Wells Fargo upped their price target on shares of Rockwell Automation from $190.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, January 25th. Cowen increased their price target on shares of Rockwell Automation from $165.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, March 20th. Daiwa Capital Markets started coverage on shares of Rockwell Automation in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $199.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Rockwell Automation from $194.00 to $206.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Citigroup reduced their price target on shares of Rockwell Automation from $214.00 to $209.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Rockwell Automation currently has an average rating of “Hold” and a consensus target price of $189.58.
In other Rockwell Automation news, insider Theodore D. Crandall sold 10,000 shares of Rockwell Automation stock in a transaction on Friday, January 26th. The shares were sold at an average price of $202.94, for a total value of $2,029,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David M. Dorgan sold 10,400 shares of Rockwell Automation stock in a transaction on Friday, January 26th. The shares were sold at an average price of $202.41, for a total transaction of $2,105,064.00. Following the completion of the sale, the vice president now owns 12,853 shares in the company, valued at $2,601,575.73. The disclosure for this sale can be found here. Insiders sold a total of 123,627 shares of company stock worth $23,604,488 over the last quarter. Company insiders own 1.28% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in Rockwell Automation in the 3rd quarter valued at approximately $9,231,000. Cubist Systematic Strategies LLC boosted its stake in shares of Rockwell Automation by 123.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 4,355 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 2,407 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Rockwell Automation by 14.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,520 shares of the industrial products company’s stock valued at $2,053,000 after purchasing an additional 1,453 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in shares of Rockwell Automation by 203.8% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 14,337 shares of the industrial products company’s stock valued at $2,555,000 after purchasing an additional 9,617 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Rockwell Automation by 2.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 550,396 shares of the industrial products company’s stock valued at $98,086,000 after purchasing an additional 15,635 shares during the last quarter. Hedge funds and other institutional investors own 73.22% of the company’s stock.
NYSE:ROK traded up $1.00 during trading hours on Friday, hitting $174.58. 543,916 shares of the stock traded hands, compared to its average volume of 896,817. Rockwell Automation has a fifty-two week low of $148.32 and a fifty-two week high of $210.72. The company has a quick ratio of 1.73, a current ratio of 1.98 and a debt-to-equity ratio of 0.57. The company has a market cap of $22,091.30, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.95 and a beta of 1.26.
Rockwell Automation announced that its Board of Directors has approved a share repurchase program on Wednesday, January 24th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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About Rockwell Automation
Rockwell Automation Inc provides industrial automation and information solutions worldwide. It operates in two segments, Architecture & Software; and Control Products & Solutions. The Architecture & Software segment provides control platforms, including controllers, electronic operator interface devices, electronic input/output devices, communication and networking products, and industrial computers that perform multiple control disciplines and monitoring of applications, such as discrete, batch and continuous process, drives control, motion control, and machine safety control.
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