Roper Technologies (NYSE:ROP) Releases FY24 Earnings Guidance

Roper Technologies (NYSE:ROP) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $18.10-18.25 for the period, compared to the consensus earnings per share estimate of $18.18. The company issued revenue guidance of ~$6.92 billion, compared to the consensus revenue estimate of $6.92 billion. Roper Technologies also updated its FY 2024 guidance to 18.100-18.250 EPS.

Roper Technologies Stock Performance

ROP stock traded up $10.79 during midday trading on Friday, hitting $551.68. 255,893 shares of the company traded hands, compared to its average volume of 522,177. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 0.38. The business has a 50 day simple moving average of $553.58 and a 200-day simple moving average of $545.30. Roper Technologies has a twelve month low of $474.46 and a twelve month high of $579.10. The stock has a market capitalization of $59.05 billion, a price-to-earnings ratio of 39.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Friday, April 26th. The industrial products company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.90 earnings per share. As a group, equities research analysts predict that Roper Technologies will post 18.16 earnings per share for the current year.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.75 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.54%. Roper Technologies’s payout ratio is presently 21.77%.

Analysts Set New Price Targets

Several research firms recently commented on ROP. Royal Bank of Canada decreased their target price on Roper Technologies from $685.00 to $674.00 and set an outperform rating for the company in a research note on Thursday. Wolfe Research cut Roper Technologies from an outperform rating to a peer perform rating in a research note on Thursday, June 13th. Robert W. Baird raised Roper Technologies from a neutral rating to an outperform rating and raised their price objective for the company from $617.00 to $635.00 in a research report on Thursday. Mizuho lifted their price objective on Roper Technologies from $525.00 to $530.00 and gave the company a neutral rating in a research note on Monday, April 29th. Finally, Barclays upped their target price on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an overweight rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $604.33.

Insider Activity

In other news, Director Christopher Wright sold 300 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $554.67, for a total transaction of $166,401.00. Following the transaction, the director now directly owns 35,247 shares in the company, valued at approximately $19,550,453.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Roper Technologies news, Director Christopher Wright sold 300 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $554.67, for a total value of $166,401.00. Following the completion of the sale, the director now owns 35,247 shares of the company’s stock, valued at $19,550,453.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the completion of the transaction, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at approximately $18,965,328.70. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Company Profile

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.