Rogers (NYSE:ROG) Issues Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Rogers (NYSE:ROG) posted its quarterly earnings data on Tuesday. The electronics maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.29, FiscalAI reports. Rogers had a negative net margin of 8.35% and a positive return on equity of 2.92%.

Rogers Stock Down 4.8%

Shares of NYSE ROG traded down $5.21 during midday trading on Tuesday, hitting $102.59. The company had a trading volume of 301,482 shares, compared to its average volume of 153,210. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -28.26 and a beta of 0.40. Rogers has a twelve month low of $51.43 and a twelve month high of $112.81. The business has a 50-day simple moving average of $97.18 and a two-hundred day simple moving average of $86.55.

Wall Street Analyst Weigh In

ROG has been the topic of a number of recent research reports. Zacks Research lowered shares of Rogers from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Wall Street Zen upgraded Rogers from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rogers in a research report on Thursday, January 22nd. Finally, B. Riley Financial reissued a “buy” rating on shares of Rogers in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.00.

Hedge Funds Weigh In On Rogers

Institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in shares of Rogers by 0.6% during the 3rd quarter. Squarepoint Ops LLC now owns 29,294 shares of the electronics maker’s stock valued at $2,357,000 after buying an additional 162 shares during the period. Cerity Partners LLC lifted its holdings in Rogers by 6.1% in the 4th quarter. Cerity Partners LLC now owns 2,870 shares of the electronics maker’s stock worth $263,000 after buying an additional 166 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rogers by 1.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the electronics maker’s stock valued at $1,594,000 after purchasing an additional 235 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Rogers in the fourth quarter worth $42,000. Finally, Swiss National Bank grew its stake in Rogers by 1.6% in the third quarter. Swiss National Bank now owns 32,300 shares of the electronics maker’s stock worth $2,599,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About Rogers

Rogers Corporation (NYSE: ROG) is a global technology and materials company specializing in the development and manufacture of engineered materials and components. The company designs and produces a broad portfolio of high-performance elastomeric, foam, silicone, adhesive and thermal management solutions, as well as advanced circuit board laminates. Its products are engineered to meet stringent requirements in areas such as electrical insulation, thermal performance and electromagnetic shielding.

Rogers serves a diverse range of end markets, including automotive, aerospace and defense, telecommunications, consumer electronics and industrial applications.