Rogers Corp. (ROG) got here out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.87 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 5.45%. 1 / 4 in the past, it was anticipated that this specialty supplies firm would put up earnings of $1 per share when it really produced earnings of $0.60, delivering a shock of -40%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.
Rogers Corp.
The sustainability of the inventory’s instant value motion primarily based on the recently-released numbers and future earnings expectations will largely rely on administration’s commentary on the earnings name.
Rogers Corp. Shares have misplaced about 17.4% for the reason that starting of the 12 months versus the S&P 500’s acquire of 6.3%.
What’s Subsequent for Rogers Corp.
Whereas Rogers Corp. Has underperformed the market to this point this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for Rogers Corp. Blended. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You possibly can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.66 on $216.3 million in revenues for the approaching quarter and $2.93 on $883 million in revenues for the present fiscal 12 months.
Buyers ought to be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as effectively. By way of the Zacks Trade Rank, Electronics – Miscellaneous Parts is presently within the prime 37% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
One different inventory from the identical business, Novanta (NOVT), is but to report outcomes for the quarter ended March 2024. The outcomes are anticipated to be launched on Might 7.
This photonic and movement management parts maker is anticipated to put up quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of -23%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Novanta’s revenues are anticipated to be $227.14 million, up 3.7% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
