Brokerages Anticipate Ingersoll-Rand PLC (NYSE:IR) Will Announce Earnings of $0.19 Per Share

Equities analysts expect that Ingersoll-Rand PLC (NYSE:IR) will announce earnings of $0.19 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Ingersoll-Rand’s earnings. The lowest EPS estimate is $0.14 and the highest is $0.26. Ingersoll-Rand reported earnings per share of $0.43 in the same quarter last year, which indicates a negative year-over-year growth rate of 55.8%. The business is scheduled to announce its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Ingersoll-Rand will report full year earnings of $1.05 per share for the current year, with EPS estimates ranging from $0.73 to $1.26. For the next fiscal year, analysts anticipate that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.06 to $1.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last released its earnings results on Tuesday, May 12th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Ingersoll-Rand had a return on equity of 2.12% and a net margin of 2.86%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s quarterly revenue was down 63.6% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. Robert W. Baird increased their target price on shares of Ingersoll-Rand from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. ValuEngine upgraded shares of Ingersoll-Rand from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. Stifel Nicolaus cut their price target on shares of Ingersoll-Rand from $38.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, April 14th. Gordon Haskett initiated coverage on shares of Ingersoll-Rand in a report on Tuesday, April 14th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Ingersoll-Rand from a “sell” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Monday, June 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $80.89.

In other Ingersoll-Rand news, major shareholder Kkr Group Partnership L.P. sold 12,100,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of $30.40, for a total value of $367,840,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew R. Schiesl sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $25.14, for a total value of $1,634,100.00. Following the completion of the transaction, the insider now directly owns 76,966 shares of the company’s stock, valued at approximately $1,934,925.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,947,500 shares of company stock valued at $766,685,750. 0.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of IR. Kohlberg Kravis Roberts & Co. L.P. acquired a new position in Ingersoll-Rand in the 1st quarter valued at approximately $1,752,644,000. Wellington Management Group LLP raised its holdings in shares of Ingersoll-Rand by 208.4% in the 1st quarter. Wellington Management Group LLP now owns 22,891,752 shares of the industrial products company’s stock worth $567,715,000 after buying an additional 15,469,364 shares in the last quarter. Viking Global Investors LP acquired a new position in shares of Ingersoll-Rand in the 1st quarter worth approximately $297,903,000. Janus Henderson Group PLC raised its holdings in shares of Ingersoll-Rand by 378.1% in the 1st quarter. Janus Henderson Group PLC now owns 7,950,062 shares of the industrial products company’s stock worth $197,162,000 after buying an additional 6,287,326 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Ingersoll-Rand by 33.4% in the 1st quarter. BlackRock Inc. now owns 22,654,377 shares of the industrial products company’s stock worth $561,827,000 after buying an additional 5,675,371 shares in the last quarter. 94.82% of the stock is owned by hedge funds and other institutional investors.

IR stock traded up $0.42 during midday trading on Friday, reaching $28.46. The company had a trading volume of 3,861,149 shares, compared to its average volume of 5,485,240. Ingersoll-Rand has a 1 year low of $17.01 and a 1 year high of $38.96. The company has a current ratio of 2.11, a quick ratio of 1.32 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $11.71 billion, a P/E ratio of 71.95, a PEG ratio of 354.60 and a beta of 1.45. The company has a 50 day moving average of $29.28 and a two-hundred day moving average of $72.40.

About Ingersoll-Rand

Ingersoll-Rand Plc designs, manufactures, sells, and services industrial and commercial products. The company operates through Climate and Industrial segments. The Climate segment offers air conditioners, exchangers, and handlers; airside and terminal devices; auxiliary power units; chillers; coils and condensers; gensets; furnaces; heat pumps; home automation; humidifiers; hybrid and non-diesel transport refrigeration, and ice energy storage solutions; indoor air quality; industrial refrigeration; motor replacements; refrigerant reclamation; thermostats/controls; transport heater products; and water source heat pumps.

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Earnings History and Estimates for Ingersoll-Rand (NYSE:IR)

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