Wall Street analysts forecast that Ingersoll-Rand PLC (NYSE:IR) will post earnings per share (EPS) of $1.71 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ingersoll-Rand’s earnings, with the highest EPS estimate coming in at $1.77 and the lowest estimate coming in at $1.69. Ingersoll-Rand posted earnings of $1.44 per share during the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Ingersoll-Rand will report full-year earnings of $5.54 per share for the current fiscal year, with EPS estimates ranging from $5.51 to $5.60. For the next year, analysts expect that the business will post earnings of $6.21 per share, with EPS estimates ranging from $6.08 to $6.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.13. Ingersoll-Rand had a return on equity of 18.11% and a net margin of 9.28%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $1.49 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Ingersoll-Rand from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Wolfe Research assumed coverage on Ingersoll-Rand in a report on Wednesday, June 27th. They set an “outperform” rating for the company. Barclays raised their price target on Ingersoll-Rand from $115.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Bank of America raised their price target on Ingersoll-Rand from $96.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Finally, Cowen assumed coverage on Ingersoll-Rand in a report on Tuesday, June 19th. They set an “outperform” rating and a $111.00 price target for the company. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $109.55.
Shares of NYSE:IR traded up $0.09 on Wednesday, hitting $103.49. 5,253 shares of the company traded hands, compared to its average volume of 1,268,490. Ingersoll-Rand has a 52 week low of $79.63 and a 52 week high of $104.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. The company has a market capitalization of $25.23 billion, a PE ratio of 22.98, a PEG ratio of 1.60 and a beta of 1.33.
In related news, SVP Paul A. Camuti sold 1,800 shares of the stock in a transaction on Wednesday, July 25th. The stock was sold at an average price of $95.00, for a total transaction of $171,000.00. Following the sale, the senior vice president now directly owns 59,290 shares of the company’s stock, valued at $5,632,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David S. Regnery sold 12,098 shares of the stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $97.00, for a total value of $1,173,506.00. Following the sale, the executive vice president now directly owns 55,810 shares in the company, valued at $5,413,570. The disclosure for this sale can be found here. Insiders have sold 26,561 shares of company stock worth $2,563,616 over the last ninety days. 0.70% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in IR. Canandaigua National Bank & Trust Co. boosted its position in Ingersoll-Rand by 12.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 26,149 shares of the industrial products company’s stock worth $2,346,000 after purchasing an additional 2,890 shares during the last quarter. Toronto Dominion Bank boosted its position in Ingersoll-Rand by 18.5% in the second quarter. Toronto Dominion Bank now owns 159,595 shares of the industrial products company’s stock worth $14,317,000 after purchasing an additional 24,904 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Ingersoll-Rand in the second quarter worth about $1,331,000. Beech Hill Advisors Inc. purchased a new position in Ingersoll-Rand in the second quarter worth about $3,293,000. Finally, Bailard Inc. boosted its position in Ingersoll-Rand by 7.2% in the second quarter. Bailard Inc. now owns 10,483 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 705 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.
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.
Read More: Return on Investment (ROI) Defined, Explained
Get a free copy of the Zacks research report on Ingersoll-Rand (IR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ingersoll-Rand Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ingersoll-Rand and related companies with MarketBeat.com's FREE daily email newsletter.