Rogers Corporation (ROG) Announces Quarterly Earnings Results
Rogers Corporation (NYSE:ROG) posted its earnings results on Thursday. The electronics maker reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.15, Bloomberg Earnings reports. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The business had revenue of $206.80 million for the quarter, compared to analysts’ expectations of $198.16 million. During the same period in the prior year, the company posted $0.86 EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. Rogers Corporation updated its Q4 guidance to $1.35-$1.45 EPS.
In other Rogers Corporation news, SVP Robert C. Daigle sold 208 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $135.86, for a total value of $28,258.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bruce D. Hoechner sold 23,200 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.23, for a total transaction of $3,090,936.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,981 shares of company stock valued at $4,644,611. Company insiders own 1.50% of the company’s stock.
ROG has been the topic of several recent analyst reports. BidaskClub upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. B. Riley reiterated a “buy” rating and issued a $147.00 target price on shares of Rogers Corporation in a research note on Tuesday, August 15th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price (up from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Rogers Corporation from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Friday, August 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $134.25.
About Rogers Corporation
Rogers Corporation manufactures and sells engineered materials and components for mission critical applications. The Company’s segments are Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES) and Other. The ACS segment manufactures and sells circuit materials and solutions for applications in wireless communications infrastructure, automotive, connected devices, consumer electronics and aerospace/defense.
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