Rogers (NYSE:ROG) Releases Quarterly Earnings Results, Beats Estimates By $0.29 EPS

Rogers (NYSE:ROG) released its quarterly earnings results on Tuesday. The electronics maker reported $0.89 EPS for the quarter, topping the consensus estimate 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 Price Performance

Rogers stock traded down $5.21 during midday trading on Tuesday, reaching $102.59. The stock had a trading volume of 301,482 shares, compared to its average volume of 153,210. Rogers has a twelve month low of $51.43 and a twelve month high of $112.81. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -28.26 and a beta of 0.40. The firm’s fifty day simple moving average is $97.18 and its two-hundred day simple moving average is $86.55.

Institutional Trading of Rogers

A number of hedge funds have recently made changes to their positions in the stock. Amundi boosted its holdings in shares of Rogers by 181.6% during the 4th quarter. Amundi now owns 8,091 shares of the electronics maker’s stock worth $741,000 after buying an additional 5,218 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Rogers by 1.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,395 shares of the electronics maker’s stock worth $1,594,000 after buying an additional 235 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in Rogers during the fourth quarter valued at approximately $222,000. State of Wisconsin Investment Board bought a new stake in shares of Rogers in the 4th quarter valued at approximately $604,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Rogers in the 4th quarter worth approximately $42,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ROG shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rogers in a report on Thursday, January 22nd. Zacks Research lowered shares of Rogers from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. B. Riley Financial reaffirmed a “buy” rating on shares of Rogers in a research note on Thursday, October 30th. Finally, Wall Street Zen raised shares of Rogers from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Rogers currently has a consensus rating of “Hold” and a consensus price target of $85.00.

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.