Wall Street analysts forecast that Ingersoll-Rand PLC (NYSE:IR) will post $1.28 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Ingersoll-Rand’s earnings. The lowest EPS estimate is $1.25 and the highest is $1.30. Ingersoll-Rand reported earnings of $1.02 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 30th.
On average, analysts expect that Ingersoll-Rand will report full-year earnings of $5.58 per share for the current fiscal year, with EPS estimates ranging from $5.55 to $5.60. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.32 per share, with EPS estimates ranging from $6.20 to $6.54. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last issued its earnings results on Wednesday, October 24th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Ingersoll-Rand had a net margin of 10.03% and a return on equity of 18.75%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 EPS.
Several research firms have recently weighed in on IR. Citigroup upped their price target on shares of Ingersoll-Rand from $117.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, October 25th. Robert W. Baird set a $106.00 price target on shares of Ingersoll-Rand and gave the stock a “hold” rating in a report on Thursday, October 25th. Credit Suisse Group began coverage on shares of Ingersoll-Rand in a report on Friday, October 12th. They issued an “outperform” rating and a $108.00 price target on the stock. JPMorgan Chase & Co. raised shares of Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a report on Friday, September 21st. Finally, Cowen reaffirmed a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a report on Monday, September 10th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $109.85.
Shares of Ingersoll-Rand stock traded down $0.69 during trading on Friday, hitting $102.86. The stock had a trading volume of 1,401,429 shares, compared to its average volume of 2,141,942. The stock has a market cap of $25.25 billion, a P/E ratio of 22.81, a PEG ratio of 1.53 and a beta of 1.28. Ingersoll-Rand has a 12 month low of $79.63 and a 12 month high of $105.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.41.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.06%. Ingersoll-Rand’s dividend payout ratio is presently 47.01%.
Ingersoll-Rand declared that its board has approved a share buyback plan on Wednesday, October 3rd that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $104.00, for a total value of $1,082,432.00. Following the transaction, the senior vice president now owns 125,098 shares of the company’s stock, valued at $13,010,192. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IR. JPMorgan Chase & Co. increased its stake in Ingersoll-Rand by 26.6% in the third quarter. JPMorgan Chase & Co. now owns 5,165,500 shares of the industrial products company’s stock valued at $528,432,000 after acquiring an additional 1,085,581 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Ingersoll-Rand by 16.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,869,560 shares of the industrial products company’s stock valued at $616,406,000 after acquiring an additional 954,768 shares during the last quarter. Millennium Management LLC increased its stake in Ingersoll-Rand by 129.9% in the second quarter. Millennium Management LLC now owns 1,551,254 shares of the industrial products company’s stock valued at $139,194,000 after acquiring an additional 876,468 shares during the last quarter. FMR LLC increased its stake in Ingersoll-Rand by 18.8% in the third quarter. FMR LLC now owns 5,304,443 shares of the industrial products company’s stock valued at $542,645,000 after acquiring an additional 838,513 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Ingersoll-Rand by 26.6% in the second quarter. Voya Investment Management LLC now owns 3,569,583 shares of the industrial products company’s stock valued at $320,299,000 after acquiring an additional 750,879 shares during the last quarter. 80.27% of the stock is currently owned by institutional investors and hedge funds.
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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