Rogers (ROG) Announces Quarterly Earnings, Beats Expectations By $0.02 EPS
Rogers (NYSE:ROG) issued its quarterly earnings data on Tuesday. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02, ARN reports. The company had revenue of $153.50 million for the quarter, compared to the consensus estimate of $153.50 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Rogers updated its Q3 guidance to $0.65-0.75 EPS.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Rogers from a “neutral” rating to an “underperform” rating in a research note on Monday, July 21st. They now have a $61.40 price target on the stock. On a related note, analysts at DA Davidson cut their price target on shares of Rogers from $77.00 to $75.00 in a research note on Friday, July 18th. They now have a “buy” rating on the stock. Finally, analysts at DA Davidson reiterated a “buy” rating on shares of Rogers in a research note on Monday, June 16th. They now have a $77.00 price target on the stock, up previously from $69.00.
Shares of Rogers (NYSE:ROG) traded up 0.28% during mid-day trading on Tuesday, hitting $61.00. The stock had a trading volume of 85,543 shares. Rogers has a 52 week low of $52.11 and a 52 week high of $68.34. The stock has a 50-day moving average of $64.88 and a 200-day moving average of $61.81. The company has a market cap of $1.105 billion and a P/E ratio of 24.09.
Rogers Corporation (NYSE:ROG) is the supplier of a range of specialty materials and components for the portable communications, communications infrastructure, consumer electronics, mass transit, automotive, defense, and clean technology.
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