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Based in Sarasota, Florida, Roper Technologies, Inc. (ROP) is a prominent industrial technology company serving a diverse range of global markets. With a market cap of $60.23 billion, Roper Technologies is renowned for its innovative software solutions and engineered products. The company is set to announce its fiscal Q2 earnings results on Friday, July 19.
Ahead of the event, analysts expect Roper to report a profit of $4.46 per share, up 8.3% from $4.12 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. Its adjusted earnings of $4.41 per share for the last reported quarter beat the consensus estimate by 1.6%. Roper’s Q1 results were supported by operational efficiency and strategic investments.
For fiscal 2024, analysts expect ROP to report EPS of $18.17, up 8.7% from $16.71 in fiscal 2023.
ROP stock is up 3.2% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 14.8% gain. The stock has also underperformed the Technology Select Sector SPDR Fund (XLK), which returned 18.4% over the same time frame.
Roper Technologies reported Q1 results on Apr. 26, with a net income of $382 million. The industrial equipment maker also reported revenue of $1.68 billion, beating the forecasted $1.65 billion. Despite the earnings beat, shares fell after the report.
The consensus view on Roper stock is bullish, with an overall “Moderate Buy” rating. Out of 14 analysts covering the stock, seven advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and six recommend a “Hold.” This configuration is slightly less bullish than three months ago when ROP had eight “Strong Buy” ratings. The average analyst price target for Roper is $598.85, indicating a potential upside of 6.4% from the current levels.
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On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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