Ingersoll-Rand Plc (IR) Releases Q1 Earnings Guidance
Ingersoll-Rand Plc (NYSE:IR) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.23-0.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.33, Analyst Ratings Net reports. The company issued revenue guidance of +2-3% (~$3.17-3.20 billion), compared to the consensus revenue estimate of $2.75 billion.Ingersoll-Rand Plc also updated its FY14 guidance to $3.05-3.20 EPS.
A number of research firms have recently commented on IR. Analysts at Zacks downgraded shares of Ingersoll-Rand Plc from a neutral rating to an underperform rating in a research note on Friday, January 17th. They now have a $57.00 price target on the stock. On a related note, analysts at Goldman Sachs reiterated a neutral rating on shares of Ingersoll-Rand Plc in a research note on Monday, January 13th. Finally, analysts at Robert W. Baird cut their price target on shares of Ingersoll-Rand Plc from $72.00 to $65.00 in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Ingersoll-Rand Plc currently has a consensus rating of Hold and an average price target of $66.75.
Shares of Ingersoll-Rand Plc (NYSE:IR) opened at 59.08 on Tuesday. Ingersoll-Rand Plc has a 52-week low of $40.6549 and a 52-week high of $63.42. The stock has a 50-day moving average of $60.51 and a 200-day moving average of $54.33. The company has a market cap of $17.020 billion and a P/E ratio of 21.97.
Ingersoll-Rand Plc (NYSE:IR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.62 by $0.01. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Ingersoll-Rand Plc will post $2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.69%.
Ingersoll-Rand plc (NYSE:IR) is a diversified, global company that provides products, services and solutions to enhance the comfort of air in homes and buildings, transport and protect food and perishables, secure homes and commercial properties.
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