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Rockwell Automation (ROK) Buys Knowledge Lens to Boost Growth
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Rockwell Automation, Inc. (ROK - Free Report) announced that it acquired Knowledge Lens, a services and solutions provider based in Bengaluru, India . Following the acquisition, Knowledge Lens will merge with Rockwell Automation's digital services business, Kalypso.
The financial terms of the acquisition are not yet disclosed.
The increase in demand to scale connectivity, as well as enable data-driven predictive and prescriptive insights, is aiding growth of Rockwell Automation’s digital transformation services business. The addition of Knowledge Lens will further expand Rockwell Automation’s capabilities to harness the power of data and enable autonomous manufacturing.
Moreover, the acquisition strengthens Rockwell Automation’s capability to assist more manufacturers worldwide in locating and utilizing the hidden insights in their data. The deal will also benefit from Knowledge Lens' pre-packaged cloud-native solutions for frequent use cases. Knowledge Lens further broadens Kalypso's capacity for supporting consumers through an open platform approach encompassing leading AI and digital technologies.
Founded in 2013, Knowledge Lens caters to a broad range of manufacturers, with a focus on highly regulated industries.
Rockwell Automation’s Kalypso offers expert services in strategy and change management, data science and artificial intelligence, enterprise technology, and managed services. It guides customers from the conception of a product to its manufacturing and delivery.
In the first quarter of fiscal 2023, Rockwell Automation delivered total revenues of $1,981 million, up 6.7% from the prior-year quarter. The top line beat the Zacks Consensus Estimate of $1,892 million. The company reported adjusted earnings per share of $2.46 in the quarter ended Dec 31, 2022, surpassing the Zacks Consensus Estimate of $1.81. The bottom line rose 15% year over year on higher sales volume and positive price/cost.
Rockwell Automation has a four-year-trailing surprise of 6.9%, on average.
Price Performance
In the past year, Rockwell Automation’s shares have gained 8.9% compared with the industry’s growth of 7.2%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Rockwell Automation currently carries a Zacks Rank #2 (Buy).
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.
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Rockwell Automation (ROK) Buys Knowledge Lens to Boost Growth
Rockwell Automation, Inc. (ROK - Free Report) announced that it acquired Knowledge Lens, a services and solutions provider based in Bengaluru, India . Following the acquisition, Knowledge Lens will merge with Rockwell Automation's digital services business, Kalypso.
The financial terms of the acquisition are not yet disclosed.
The increase in demand to scale connectivity, as well as enable data-driven predictive and prescriptive insights, is aiding growth of Rockwell Automation’s digital transformation services business. The addition of Knowledge Lens will further expand Rockwell Automation’s capabilities to harness the power of data and enable autonomous manufacturing.
Moreover, the acquisition strengthens Rockwell Automation’s capability to assist more manufacturers worldwide in locating and utilizing the hidden insights in their data. The deal will also benefit from Knowledge Lens' pre-packaged cloud-native solutions for frequent use cases. Knowledge Lens further broadens Kalypso's capacity for supporting consumers through an open platform approach encompassing leading AI and digital technologies.
Founded in 2013, Knowledge Lens caters to a broad range of manufacturers, with a focus on highly regulated industries.
Rockwell Automation’s Kalypso offers expert services in strategy and change management, data science and artificial intelligence, enterprise technology, and managed services. It guides customers from the conception of a product to its manufacturing and delivery.
In the first quarter of fiscal 2023, Rockwell Automation delivered total revenues of $1,981 million, up 6.7% from the prior-year quarter. The top line beat the Zacks Consensus Estimate of $1,892 million. The company reported adjusted earnings per share of $2.46 in the quarter ended Dec 31, 2022, surpassing the Zacks Consensus Estimate of $1.81. The bottom line rose 15% year over year on higher sales volume and positive price/cost.
Rockwell Automation has a four-year-trailing surprise of 6.9%, on average.
Price Performance
In the past year, Rockwell Automation’s shares have gained 8.9% compared with the industry’s growth of 7.2%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Rockwell Automation currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are OI Glass (OI - Free Report) , Tenaris (TS - Free Report) and Deere & Company (DE - Free Report) . OI and TS flaunt a Zacks Rank #1 (Strong Buy) at present, and DE has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
OI Glass has an average trailing four-quarter earnings surprise of 16.4%. The Zacks Consensus Estimate for OI’s 2023 earnings is pegged at $2.57 per share. This indicates an 11.7% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved 16% north in the past 60 days. OI’s shares gained 79.2% in the last year.
Tenaris has an average trailing four-quarter earnings surprise of 11.5%. The Zacks Consensus Estimate for TS’ 2023 earnings is pegged at $6.04 per share. This indicates a 39.5% increase from the prior-year reported figure. The consensus estimate for 2023 earnings has moved north by 17% in the past 60 days. Its shares gained 26.1% in the last year.
The Zacks Consensus Estimate for Deere & Company’s fiscal 2023 earnings per share is pegged at $29.82, suggesting an increase of 28.1% from that reported in the last year. The consensus estimate for fiscal 2023 earnings moved 6% upward in the last 60 days. DE has a trailing four-quarter average earnings surprise of 4.7%. Its shares gained 11.6% in the last year.