Zacks: Analysts Anticipate Ingersoll-Rand PLC (IR) Will Post Earnings of $1.28 Per Share
Brokerages predict that Ingersoll-Rand PLC (NYSE:IR) will post earnings of $1.28 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ingersoll-Rand’s earnings. The lowest EPS estimate is $1.25 and the highest is $1.30. Ingersoll-Rand posted earnings of $1.02 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.5%. The business is expected to issue 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 fiscal year, analysts anticipate that the company will post earnings of $6.32 per share, with EPS estimates ranging from $6.20 to $6.54. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Ingersoll-Rand.
Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. Ingersoll-Rand had a net margin of 10.03% and a return on equity of 18.75%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Ingersoll-Rand’s revenue for the quarter was up 9.8% on a year-over-year basis.
Shares of IR opened at $102.44 on Monday. Ingersoll-Rand has a fifty-two week low of $79.63 and a fifty-two week high of $107.08. The stock has a market cap of $25.17 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.52 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.41 and a quick ratio of 0.99.
Ingersoll-Rand declared that its Board of Directors has initiated a share 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 typically an indication that the company’s management believes its stock is undervalued.
The business also recently announced 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 is Thursday, December 6th. This represents a $2.12 dividend on an annualized basis and a yield of 2.07%. Ingersoll-Rand’s dividend payout ratio (DPR) is presently 47.01%.
In other Ingersoll-Rand news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction dated Friday, September 14th. The shares were 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 $13,010,192. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Belpointe Asset Management LLC purchased a new stake in Ingersoll-Rand in the 3rd quarter worth approximately $590,000. Vanguard Group Inc. grew its stake in Ingersoll-Rand by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,140,057 shares of the industrial products company’s stock worth $1,753,427,000 after acquiring an additional 43,240 shares during the period. Legal & General Group Plc grew its stake in Ingersoll-Rand by 7.8% in the 3rd quarter. Legal & General Group Plc now owns 1,393,640 shares of the industrial products company’s stock worth $142,569,000 after acquiring an additional 100,734 shares during the period. Kepos Capital LP purchased a new stake in Ingersoll-Rand in the 3rd quarter worth approximately $1,805,000. Finally, Rehmann Capital Advisory Group grew its stake in Ingersoll-Rand by 9,536.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 72,657 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 71,903 shares during the period. 79.74% of the stock is 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.
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