Brokers Issue Forecasts for Roper Technologies, Inc.’s Q3 2024 Earnings (NYSE:ROP)

Roper Technologies, Inc. (NYSE:ROP) – Stock analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Roper Technologies in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst R. Department now forecasts that the industrial products company will post earnings per share of $4.56 for the quarter, down from their previous estimate of $4.57. The consensus estimate for Roper Technologies’ current full-year earnings is $18.08 per share.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.34 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.92 earnings per share.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their target price on Roper Technologies from $620.00 to $622.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Wells Fargo & Company boosted their price objective on Roper Technologies from $560.00 to $615.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. TD Cowen cut Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price objective for the company. in a research note on Thursday, January 4th. Oppenheimer boosted their price objective on Roper Technologies from $580.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Finally, Mizuho boosted their price objective on Roper Technologies from $500.00 to $525.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.58.

Roper Technologies Price Performance

ROP stock opened at $539.62 on Wednesday. The business has a 50 day moving average price of $545.66 and a 200 day moving average price of $533.09. The stock has a market cap of $57.75 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.84 and a beta of 0.99. Roper Technologies has a fifty-two week low of $430.03 and a fifty-two week high of $565.00. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 0.33.

Roper Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, April 5th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, April 4th. Roper Technologies’s dividend payout ratio is presently 23.27%.

Insider Buying and Selling

In related news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the transaction, the director now owns 35,547 shares of the company’s stock, valued at $19,540,541.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ROP. Norges Bank purchased a new stake in Roper Technologies during the fourth quarter worth $756,176,000. Mackenzie Financial Corp boosted its position in Roper Technologies by 45.6% during the fourth quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock worth $488,968,000 after purchasing an additional 280,873 shares in the last quarter. First Trust Advisors LP boosted its position in Roper Technologies by 149.7% during the fourth quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock worth $200,067,000 after purchasing an additional 220,006 shares in the last quarter. Corient Private Wealth LLC boosted its position in Roper Technologies by 32.8% during the fourth quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock worth $468,273,000 after purchasing an additional 211,967 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in Roper Technologies during the third quarter worth $82,379,000. Institutional investors and hedge funds own 93.31% 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.