Rogers Corporation (ROG) Issues Q4 Earnings Guidance
Rogers Corporation (NYSE:ROG) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.35-$1.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.23. The company issued revenue guidance of $200-$210 million, compared to the consensus revenue estimate of $199.72 million.
Rogers Corporation (NYSE:ROG) last issued its quarterly earnings data on Monday, July 31st. The electronics maker reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.13. Rogers Corporation had a net margin of 10.21% and a return on equity of 13.28%. The firm had revenue of $201.40 million for the quarter, compared to analysts’ expectations of $195.60 million. During the same quarter in the prior year, the business earned $0.88 EPS. The business’s quarterly revenue was up 27.9% on a year-over-year basis.
Several equities analysts have recently weighed in on the stock. B. Riley reiterated a buy rating and issued a $147.00 price objective on shares of Rogers Corporation in a research note on Saturday, August 5th. BidaskClub upgraded shares of Rogers Corporation from a hold rating to a buy rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded shares of Rogers Corporation from a hold rating to a buy rating and set a $130.00 price objective on the stock in a research note on Friday, August 18th. Finally, Needham & Company LLC reiterated a buy rating and issued a $135.00 price objective (up previously from $115.00) on shares of Rogers Corporation in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $134.25.
In related news, insider Bruce D. Hoechner sold 23,200 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.23, for a total value of $3,090,936.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey M. Grudzien sold 3,042 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $114.08, for a total transaction of $347,031.36. Following the completion of the sale, the senior vice president now directly owns 28,022 shares of the company’s stock, valued at $3,196,749.76. The disclosure for this sale can be found here. Insiders sold a total of 35,981 shares of company stock valued at $4,644,611 over the last three months. 1.50% of the stock is currently owned by insiders.
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Rogers Corporation Company Profile
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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