Wall Street brokerages expect Ingersoll Rand Inc. (NYSE:IR) to report $1.70 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ingersoll Rand’s earnings. The lowest EPS estimate is $1.64 and the highest is $1.75. Ingersoll Rand posted earnings of $1.49 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.1%. The business is scheduled to announce its next quarterly earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Ingersoll Rand will report full-year earnings of $5.29 per share for the current year, with EPS estimates ranging from $5.25 to $5.35. For the next year, analysts anticipate that the business will report earnings of $5.93 per share, with EPS estimates ranging from $5.80 to $6.10. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ingersoll Rand.
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Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Wednesday, April 25th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.19 billion. Ingersoll Rand had a net margin of 8.96% and a return on equity of 17.03%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS.
Several research firms recently issued reports on IR. Stifel Nicolaus increased their price target on shares of Ingersoll Rand from $94.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Zacks Investment Research lowered shares of Ingersoll Rand from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. Barclays began coverage on shares of Ingersoll Rand in a research report on Thursday, February 15th. They set an “overweight” rating and a $111.00 price target on the stock. BMO Capital Markets increased their price target on shares of Ingersoll Rand to $115.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, Argus increased their price target on shares of Ingersoll Rand to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Ingersoll Rand has a consensus rating of “Hold” and an average target price of $103.77.
Shares of Ingersoll Rand traded up $1.68, hitting $91.59, during trading hours on Monday, according to MarketBeat. 1,415,907 shares of the stock were exchanged, compared to its average volume of 1,852,700. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $22.29 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.55 and a beta of 1.35. Ingersoll Rand has a 1-year low of $79.63 and a 1-year high of $97.67.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, June 7th. Ingersoll Rand’s payout ratio is 39.91%.
In related news, insider Paul A. Camuti sold 1,678 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $85.15, for a total value of $142,881.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael W. Lamach sold 58,284 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $90.30, for a total transaction of $5,263,045.20. The disclosure for this sale can be found here. In the last three months, insiders sold 67,522 shares of company stock valued at $6,088,519. 0.70% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Calton & Associates Inc. bought a new position in shares of Ingersoll Rand during the fourth quarter valued at $112,000. Resources Investment Advisors Inc. raised its stake in shares of Ingersoll Rand by 218.6% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,354 shares of the industrial products company’s stock valued at $122,000 after acquiring an additional 929 shares during the last quarter. Synovus Financial Corp bought a new position in shares of Ingersoll Rand during the first quarter valued at $118,000. Advisory Services Network LLC raised its stake in shares of Ingersoll Rand by 61.3% during the fourth quarter. Advisory Services Network LLC now owns 1,790 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 680 shares during the last quarter. Finally, Thompson Davis & CO. Inc. raised its stake in shares of Ingersoll Rand by 140.7% during the first quarter. Thompson Davis & CO. Inc. now owns 1,793 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 1,048 shares during the last quarter. 79.15% of the stock is owned by hedge funds and other institutional investors.
Ingersoll Rand Company Profile
Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.
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