Rogers Co. (NYSE:ROG) – Research analysts at B. Riley lowered their FY2018 earnings per share estimates for Rogers in a note issued to investors on Friday, November 2nd. B. Riley analyst C. Ellis now forecasts that the electronics maker will post earnings per share of $5.36 for the year, down from their prior estimate of $5.47. B. Riley currently has a “Buy” rating and a $180.00 price target on the stock. B. Riley also issued estimates for Rogers’ Q4 2018 earnings at $1.27 EPS, Q1 2019 earnings at $1.40 EPS, Q2 2019 earnings at $1.51 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.67 EPS, Q1 2020 earnings at $1.77 EPS, Q2 2020 earnings at $1.95 EPS, Q3 2020 earnings at $2.02 EPS and FY2020 earnings at $7.84 EPS.
Rogers (NYSE:ROG) last announced its quarterly earnings results on Thursday, November 1st. The electronics maker reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.11. Rogers had a return on equity of 12.78% and a net margin of 8.11%. The firm had revenue of $226.90 million for the quarter, compared to analysts’ expectations of $224.89 million. During the same period in the prior year, the business posted $1.41 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year.
A number of other analysts have also recently weighed in on ROG. Zacks Investment Research cut Rogers from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine upgraded Rogers from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, Sidoti restated a “buy” rating and set a $175.00 target price on shares of Rogers in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $175.25.
Shares of NYSE:ROG opened at $122.63 on Monday. Rogers has a fifty-two week low of $105.60 and a fifty-two week high of $184.00. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 21.29 and a beta of 1.66. The company has a current ratio of 4.39, a quick ratio of 3.22 and a debt-to-equity ratio of 0.29.
Several hedge funds have recently made changes to their positions in ROG. Janus Henderson Group PLC lifted its stake in shares of Rogers by 124.3% during the second quarter. Janus Henderson Group PLC now owns 959,893 shares of the electronics maker’s stock valued at $106,990,000 after acquiring an additional 531,945 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Rogers by 993.1% during the third quarter. Wells Fargo & Company MN now owns 296,788 shares of the electronics maker’s stock valued at $43,724,000 after acquiring an additional 269,638 shares during the period. BlackRock Inc. lifted its stake in shares of Rogers by 10.0% during the second quarter. BlackRock Inc. now owns 2,536,309 shares of the electronics maker’s stock valued at $282,697,000 after acquiring an additional 230,796 shares during the period. GW&K Investment Management LLC lifted its stake in shares of Rogers by 102.4% during the third quarter. GW&K Investment Management LLC now owns 233,774 shares of the electronics maker’s stock valued at $34,440,000 after acquiring an additional 118,262 shares during the period. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of Rogers during the third quarter valued at $14,755,000. Institutional investors own 94.58% of the company’s stock.
In other news, VP Marc J. Beulque sold 2,865 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $137.92, for a total transaction of $395,140.80. Following the sale, the vice president now owns 2,298 shares in the company, valued at $316,940.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey M. Grudzien sold 1,751 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $131.11, for a total value of $229,573.61. Following the sale, the senior vice president now owns 22,992 shares in the company, valued at approximately $3,014,481.12. The disclosure for this sale can be found here. Insiders have sold 21,712 shares of company stock worth $3,176,122 in the last 90 days. Company insiders own 0.96% of the company’s stock.
Rogers Corporation designs, develops, manufactures, and sells engineered materials and components worldwide. The company's Advanced Connectivity Solutions segment offers circuit materials and solutions for connectivity applications in wireless communications infrastructure, automotive, connected devices, wired infrastructure, consumer electronics, and aerospace/defense.
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