Zacks: Brokerages Expect Rockwell Automation, Inc. (ROK) Will Post Quarterly Sales of $1.65 Billion
Equities analysts expect that Rockwell Automation, Inc. (NYSE:ROK) will report $1.65 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Rockwell Automation’s earnings. The highest sales estimate is $1.67 billion and the lowest is $1.64 billion. Rockwell Automation reported sales of $1.54 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The company is scheduled to announce its next earnings report on Monday, November 6th.
On average, analysts expect that Rockwell Automation will report full-year sales of $1.65 billion for the current financial year, with estimates ranging from $6.25 billion to $6.31 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.64 billion per share, with estimates ranging from $6.55 billion to $6.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Rockwell Automation.
Rockwell Automation (NYSE:ROK) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Rockwell Automation had a return on equity of 40.71% and a net margin of 13.04%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS.
Several research analysts have recently commented on ROK shares. Gabelli raised Rockwell Automation from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Barclays PLC boosted their target price on Rockwell Automation from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Credit Suisse Group reissued a “hold” rating and issued a $155.00 target price on shares of Rockwell Automation in a report on Thursday, April 27th. Stifel Nicolaus boosted their target price on Rockwell Automation from $159.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Morgan Stanley boosted their target price on Rockwell Automation from $153.00 to $167.00 and gave the stock an “equal weight” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $152.33.
Shares of Rockwell Automation (ROK) opened at 164.90 on Monday. The stock’s 50 day moving average price is $163.36 and its 200-day moving average price is $156.26. Rockwell Automation has a 12 month low of $111.52 and a 12 month high of $167.97. The firm has a market capitalization of $21.42 billion, a PE ratio of 26.59 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, August 10th. Rockwell Automation’s payout ratio is 49.03%.
In other Rockwell Automation news, Director Keith D. Nosbusch sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $157.50, for a total transaction of $3,150,000.00. Following the completion of the sale, the director now owns 411,286 shares in the company, valued at approximately $64,777,545. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith D. Nosbusch sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $157.00, for a total transaction of $1,570,000.00. Following the sale, the director now owns 411,286 shares of the company’s stock, valued at approximately $64,571,902. The disclosure for this sale can be found here. Insiders have sold a total of 124,757 shares of company stock valued at $20,015,634 in the last quarter. Corporate insiders own 1.65% of the company’s stock.
Several hedge funds have recently modified their holdings of ROK. Jacobus Wealth Management Inc. acquired a new stake in shares of Rockwell Automation during the first quarter valued at approximately $104,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Rockwell Automation by 1,700.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 720 shares of the industrial products company’s stock valued at $112,000 after buying an additional 680 shares during the last quarter. Clarkston Capital Partners LLC acquired a new stake in shares of Rockwell Automation during the second quarter valued at approximately $206,000. Appleton Group LLC acquired a new stake in shares of Rockwell Automation during the first quarter valued at approximately $213,000. Finally, Hunter Associates Investment Management LLC acquired a new stake in shares of Rockwell Automation during the first quarter valued at approximately $215,000. Institutional investors own 73.24% of the company’s stock.
About Rockwell Automation
Rockwell Automation, Inc (Rockwell Automation) is a provider of industrial automation power, control and information solutions for manufacturers. The Company operates through two segments: Architecture & Software and Control Products & Solutions. The Architecture & Software segment contains various hardware, software and communication components of the Company’s integrated control and information architecture capable of controlling the customer’s industrial processes and connecting with their manufacturing enterprise.
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