Zacks: Brokerages Expect Ingersoll-Rand PLC (IR) to Announce $1.28 EPS

Wall Street analysts predict that Ingersoll-Rand PLC (NYSE:IR) will report $1.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Ingersoll-Rand’s earnings, with the highest EPS estimate coming in at $1.30 and the lowest estimate coming in at $1.25. Ingersoll-Rand reported earnings per share of $1.02 in the same quarter last year, which suggests a positive year-over-year growth rate of 25.5%. The company is expected to announce its next quarterly earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that Ingersoll-Rand will report full-year earnings of $5.58 per share for the current year, with EPS estimates ranging from $5.55 to $5.60. For the next financial year, analysts expect that the company will post earnings of $6.31 per share, with EPS estimates ranging from $6.20 to $6.54. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.02 billion. Ingersoll-Rand had a return on equity of 18.75% and a net margin of 10.03%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 EPS.

Several research firms recently issued reports on IR. Robert W. Baird set a $106.00 price target on Ingersoll-Rand and gave the company a “hold” rating in a research note on Thursday, October 25th. ValuEngine upgraded Ingersoll-Rand from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Stephens began coverage on Ingersoll-Rand in a research note on Monday, November 19th. They issued an “overweight” rating and a $118.00 price target for the company. Cowen restated a “buy” rating and issued a $115.00 price target on shares of Ingersoll-Rand in a research note on Monday, September 10th. Finally, JPMorgan Chase & Co. upgraded Ingersoll-Rand from a “neutral” rating to an “overweight” rating in a research note on Friday, September 21st. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $110.43.

In other Ingersoll-Rand news, SVP Marcia J. Avedon sold 10,408 shares of Ingersoll-Rand 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 completion of the transaction, the senior vice president now directly owns 125,098 shares of the company’s stock, valued at approximately $13,010,192. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in Ingersoll-Rand by 10.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,609,711 shares of the industrial products company’s stock worth $778,473,000 after purchasing an additional 740,151 shares in the last quarter. Carnick & Kubik Group LLC increased its holdings in Ingersoll-Rand by 36.5% in the 3rd quarter. Carnick & Kubik Group LLC now owns 40,000 shares of the industrial products company’s stock worth $4,092,000 after purchasing an additional 10,700 shares in the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in Ingersoll-Rand by 12.4% in the 2nd 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 in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Ingersoll-Rand by 9.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 30,002 shares of the industrial products company’s stock worth $3,069,000 after purchasing an additional 2,670 shares in the last quarter. Finally, Bailard Inc. increased its holdings in Ingersoll-Rand by 7.2% in the 2nd quarter. Bailard Inc. now owns 10,483 shares of the industrial products company’s stock worth $941,000 after purchasing an additional 705 shares in the last quarter. 79.74% of the stock is owned by institutional investors.

IR traded down $3.23 during trading on Monday, hitting $97.98. The stock had a trading volume of 1,247,520 shares, compared to its average volume of 1,459,917. The company has a market capitalization of $24.86 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.51 and a beta of 1.28. Ingersoll-Rand has a one year low of $79.63 and a one year high of $107.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $2.12 annualized dividend and a yield of 2.16%. Ingersoll-Rand’s dividend payout ratio is presently 47.01%.

Ingersoll-Rand declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 3rd that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Ingersoll-Rand

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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