Rockwell Automation (ROK) to Release Earnings on Thursday

Rockwell Automation (NYSE:ROK) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, November 7th. Analysts expect the company to announce earnings of $2.40 per share for the quarter. Rockwell Automation has set its FY24 guidance at $9.60 EPS and its FY 2024 guidance at 9.600-9.600 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Rockwell Automation (NYSE:ROK) last posted its 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 firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Rockwell Automation had a net margin of 11.56% and a return on equity of 34.09%. The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.01 earnings per share. On average, analysts expect Rockwell Automation to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Rockwell Automation Stock Performance

NYSE ROK opened at $266.61 on Thursday. The firm’s fifty day moving average price is $265.99 and its two-hundred day moving average price is $266.81. The stock has a market cap of $30.25 billion, a PE ratio of 30.30, a PEG ratio of 4.70 and a beta of 1.36. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $312.76. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.68 and a current ratio of 1.04.

Rockwell Automation announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ROK shares. Bank of America boosted their price objective on shares of Rockwell Automation from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley started coverage on shares of Rockwell Automation in a report on Friday, September 6th. They issued an “overweight” rating and a $320.00 target price on the stock. Mizuho boosted their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Redburn Atlantic started coverage on shares of Rockwell Automation in a report on Monday, July 8th. They issued a “neutral” rating and a $256.00 target price on the stock. Finally, 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 report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Rockwell Automation presently has a consensus rating of “Hold” and a consensus price target of $286.47.

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.