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Rogers Corp (ROG - Free Report) had a record-setting 2010 and is very optimistic about this year. Analysts have raised estimates and shares are still trading with solid valuations. This Zacks #1 Rank (Strong Buy) has a bright future.

Company Description

Rogers Corp is a specialty materials company with products used in electronics, clean technology, telecomm and other industries.

Exceeded Guidance

On Feb 17 Rogers Corp announced fourth-quarter results that came in ahead of the company's guidance and analysts' expectations. The top line showed 25% increase, to $97.3 million, which was $1.3 million above the high end of Rogers Corp's guidance. Annual sales for the year came to an all-time record of $332 million.

Earnings per share for the quarter were $0.44, a nickel higher than the Zacks Consensus Estimate. Improving margins, along with higher sales, lead to the better-than-expected performance.

A Big 2011

Rogers Corp's CEO said he is "...optimistic about the first quarter and even more so for the second quarter and the year."

Estimates for 2011 jumped 54 cents to an average $2.71, which represents a 39% growth rate. Next year's Zacks Consensus Estimate i sup 89 cents, to $3.29, a 22% growth rate.

Good Multiples

Shares of ROG are trading with some attractive valuations as well. The forward P/E's are coming in around 17 times the 2011 estimates and 14 times the 2012 forecast.

Analysts are looking for a long-term growth rate near 13.5%, which puts the PEG ratio at 1.2 times. Not a bad deal for that steady growth projection.

The Chart

Growth projections for Rogers Corp continue to improve and it looks like the long-term trend is really starting to take shape. You can see below that the annual estimates are growing year over year. And, with the recent revision, they are really starting to take off.

Rogers Corp  - ticker ROG>


Bill Wilton is the Aggressive Growth Stock Strategist for He is also the Editor in charge of the Zacks Small Cap Trader service

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