Rogers Co. (ROG) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.52-0.58 for the period, compared to the Thomson Reuters consensus estimate of $0.75. The company issued revenue guidance of ~$124 million, compared to the consensus revenue estimate of $132.67 million.
On a related note, analysts at DA Davidson downgraded shares of Rogers from a buy rating to a neutral rating in a research note to investors on Friday, January 11th. They now have a $54.00 price target on the stock, up previously from $48.00.
Shares of Rogers Co. (ROG) opened at 46.70 on Tuesday. Rogers Co. (ROG) has a one year low of $34.61 and a one year high of $51.96. The stock?s 50-day moving average is currently $49.10. The company has a market cap of $774.6 million and a P/E ratio of 13.45.
Rogers last announced its earnings results on Monday, November 5th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.64 by $0.05. The company had revenue of $130.20 million for the quarter, compared to the consensus estimate of $132.27 million. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company?s quarterly revenue was down 11.6% on a year-over-year basis. Rogers has set its Q4 guidance at $0.69-0.79 EPS. On average, analysts predict that Rogers Co. (ROG) will post $2.19 earnings per share for the current fiscal year.
Rogers Corporation (Rogers) is engaged in the supply of specialty materials and components for the portable communications, communications infrastructure, consumer electronics, mass transit, automotive, defense and sustainable energy markets.