Roper Technologies (NYSE:ROP) Updates Q2 2024 Earnings Guidance

Roper Technologies (NYSE:ROP) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 4.420-4.460 for the period, compared to the consensus earnings per share estimate of 4.490. The company issued revenue guidance of -. Roper Technologies also updated its FY 2024 guidance to 18.050-18.250 EPS.

Roper Technologies Price Performance

ROP traded down $13.63 during trading on Friday, reaching $526.78. 856,081 shares of the company were exchanged, compared to its average volume of 498,846. The company’s 50-day moving average is $545.05 and its two-hundred day moving average is $533.61. The company has a market cap of $56.38 billion, a price-to-earnings ratio of 38.23, a P/E/G ratio of 2.78 and a beta of 0.99. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.33. Roper Technologies has a 12-month low of $435.49 and a 12-month high of $565.00.

Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, topping the consensus estimate of $4.34 by $0.07. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.90 EPS. Research analysts forecast that Roper Technologies will post 18.08 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, April 5th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $3.00 annualized dividend and a dividend yield of 0.57%. Roper Technologies’s payout ratio is 21.77%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Oppenheimer lifted their target price on shares of Roper Technologies from $580.00 to $650.00 and gave the stock an outperform rating in a research note on Friday, March 22nd. TD Cowen cut Roper Technologies from an outperform rating to a market perform rating and set a $535.00 price objective on the stock. in a report on Thursday, January 4th. Mizuho raised their target price on Roper Technologies from $500.00 to $525.00 and gave the stock a neutral rating in a research note on Thursday, February 1st. Barclays upped their target price on shares of Roper Technologies from $596.00 to $600.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Roper Technologies from $560.00 to $615.00 and gave the company an overweight rating in a report on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $574.58.

Insiders Place Their Bets

In related news, Director Christopher Wright sold 200 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $549.71, for a total value of $109,942.00. Following the transaction, the director now owns 35,547 shares in the company, valued at approximately $19,540,541.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.94% of the stock is currently owned by insiders.

About Roper Technologies

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.