Wall Street analysts expect that Rogers Co. (NYSE:ROG) will report sales of $244.85 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rogers’ earnings, with the highest sales estimate coming in at $245.20 million and the lowest estimate coming in at $244.50 million. Rogers reported sales of $214.68 million in the same quarter last year, which suggests a positive year over year growth rate of 14.1%. The business is scheduled to report its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Rogers will report full year sales of $979.85 million for the current year, with estimates ranging from $976.70 million to $983.00 million. For the next financial year, analysts expect that the business will post sales of $1.06 billion, with estimates ranging from $1.05 billion to $1.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Rogers.
Rogers (NYSE:ROG) last issued its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.53. Rogers had a net margin of 9.94% and a return on equity of 13.71%. The business had revenue of $239.80 million during the quarter, compared to analysts’ expectations of $226.25 million. During the same period last year, the company posted $1.48 EPS. The company’s revenue was up 11.7% on a year-over-year basis.
A number of research analysts have recently weighed in on the stock. ValuEngine raised shares of Rogers from a “hold” rating to a “buy” rating in a research note on Tuesday, June 4th. Stifel Nicolaus began coverage on shares of Rogers in a report on Thursday, May 30th. They set a “buy” rating and a $200.00 target price on the stock. Zacks Investment Research upgraded shares of Rogers from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a report on Friday, May 3rd. Finally, B. Riley boosted their target price on shares of Rogers from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Six investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $190.80.
Shares of ROG traded up $1.75 during mid-day trading on Thursday, reaching $165.63. 162,900 shares of the company’s stock were exchanged, compared to its average volume of 186,523. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.42 and a current ratio of 4.65. The stock’s 50-day simple moving average is $155.18. Rogers has a 52-week low of $89.21 and a 52-week high of $206.43. The company has a market cap of $2.90 billion, a P/E ratio of 28.71 and a beta of 2.12.
In other news, SVP Robert C. Daigle sold 13,294 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $191.13, for a total value of $2,540,882.22. Following the completion of the transaction, the senior vice president now owns 27,229 shares of the company’s stock, valued at $5,204,278.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce D. Hoechner sold 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $170.05, for a total value of $561,165.00. Following the completion of the transaction, the insider now directly owns 67,972 shares of the company’s stock, valued at approximately $11,558,638.60. The disclosure for this sale can be found here. In the last three months, insiders sold 18,003 shares of company stock valued at $3,346,540. 1.09% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Private Capital Group LLC boosted its holdings in Rogers by 48.6% in the first quarter. Private Capital Group LLC now owns 214 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 70 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Rogers during the 4th quarter worth about $37,000. Bank of Montreal Can lifted its holdings in shares of Rogers by 22.9% in the 4th quarter. Bank of Montreal Can now owns 876 shares of the electronics maker’s stock valued at $87,000 after buying an additional 163 shares during the period. Ellis Investment Partners LLC acquired a new position in shares of Rogers in the 1st quarter valued at about $104,000. Finally, Advisor Group Inc. lifted its holdings in shares of Rogers by 9.6% in the 4th quarter. Advisor Group Inc. now owns 1,385 shares of the electronics maker’s stock valued at $137,000 after buying an additional 121 shares during the period. 93.89% of the stock is owned by institutional investors.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. It operates in Advanced Connectivity Solutions (ACS), Elastomeric Material Solutions (EMS), Power Electronics Solutions (PES), and Other segments. The ACS segment offers circuit materials and solutions for connectivity applications in wireless infrastructure, automotive, aerospace and defense, connected devices, wired infrastructure, and consumer electronics under the RO3000, RO4000, RT/duroid, TMM, AD Series, and CLTE Series names.
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