Roper Technologies (NYSE:ROP) Updates FY24 Earnings Guidance

Roper Technologies (NYSE:ROP) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share 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 Price Performance

ROP traded down $39.18 during midday trading on Wednesday, reaching $535.09. 1,560,280 shares of the company’s stock were exchanged, compared to its average volume of 516,532. The firm has a market capitalization of $57.28 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. Roper Technologies has a one year low of $474.46 and a one year high of $579.10. The business has a 50-day simple moving average of $553.53 and a two-hundred day simple moving average of $545.42.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, topping the consensus estimate of $4.34 by $0.07. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $3.90 earnings per share. As a group, research analysts predict that Roper Technologies will post 18.17 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, July 8th. Roper Technologies’s payout ratio is 21.77%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the completion of the sale, the chief financial officer now owns 33,685 shares of the company’s stock, valued at approximately $18,965,328.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction on 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 of the company’s stock, valued at $19,550,453.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction, the chief financial officer now directly owns 33,685 shares in the company, valued at $18,965,328.70. The disclosure for this sale can be found here. Company 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.