Roper Technologies (NYSE:ROP) Updates Q3 Earnings Guidance

Roper Technologies (NYSE:ROP) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.50-4.54 for the period, compared to the consensus earnings per share estimate of $4.62. Roper Technologies also updated its FY 2024 guidance to 18.100-18.250 EPS.

Roper Technologies Price Performance

Shares of NYSE ROP traded down $44.76 during mid-day trading on Wednesday, reaching $529.51. The company had a trading volume of 1,505,387 shares, compared to its average volume of 516,143. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. The stock has a market cap of $56.68 billion, a PE ratio of 37.94, a P/E/G ratio of 3.02 and a beta of 1.02. The company has a 50-day moving average price of $553.53 and a two-hundred day moving average price of $545.42. Roper Technologies has a 1-year low of $474.46 and a 1-year high of $579.10.

Roper Technologies (NYSE:ROP) last issued its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.34 by $0.07. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.90 EPS. On average, equities analysts anticipate that Roper Technologies will post 18.17 earnings per share for the current year.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Monday, July 8th. Roper Technologies’s payout ratio is 21.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ROP. Wolfe Research cut Roper Technologies from an outperform rating to a peer perform rating in a research report on Thursday, June 13th. Barclays raised their target price on Roper Technologies from $611.00 to $625.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their price objective on Roper Technologies from $696.00 to $680.00 and set an outperform rating for the company in a research report on Monday, April 29th. Oppenheimer reissued an outperform rating and set a $650.00 price objective on shares of Roper Technologies in a research report on Monday, April 29th. Finally, Mizuho lifted their price objective on Roper Technologies from $525.00 to $530.00 and gave the company a neutral rating in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $597.78.

Insider Buying and Selling

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