Analysts Expect Ingersoll Rand Inc. (NYSE:IR) Will Post Earnings of $0.45 Per Share

Wall Street brokerages forecast that Ingersoll Rand Inc. (NYSE:IRGet Rating) will post earnings per share of $0.45 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Ingersoll Rand’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.44. Ingersoll Rand also reported earnings per share of $0.45 in the same quarter last year. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Ingersoll Rand will report full-year earnings of $2.28 per share for the current year, with EPS estimates ranging from $2.20 to $2.38. For the next year, analysts expect that the business will post earnings of $2.57 per share, with EPS estimates ranging from $2.42 to $2.74. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Ingersoll Rand.

Ingersoll Rand (NYSE:IRGet Rating) last issued its earnings results on Wednesday, February 23rd. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Ingersoll Rand had a return on equity of 8.35% and a net margin of 10.43%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year.

Several research firms recently commented on IR. Barclays dropped their price target on Ingersoll Rand from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft dropped their price target on Ingersoll Rand from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Morgan Stanley dropped their price target on Ingersoll Rand from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Credit Suisse Group dropped their price target on Ingersoll Rand from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, February 25th. Finally, StockNews.com began coverage on Ingersoll Rand in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Buy” and an average target price of $64.14.

Shares of IR stock traded up $0.13 during trading hours on Monday, hitting $46.96. The stock had a trading volume of 18,392 shares, compared to its average volume of 2,593,023. Ingersoll Rand has a one year low of $44.85 and a one year high of $62.64. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.80 and a quick ratio of 2.22. The stock’s 50-day moving average price is $51.04 and its two-hundred day moving average price is $54.93. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 34.60 and a beta of 1.49.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Wednesday, March 9th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Tuesday, March 8th. Ingersoll Rand’s dividend payout ratio is presently 5.93%.

In related news, insider Nicholas J. Kendall-Jones sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $50.88, for a total value of $305,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sia Abbaszadeh sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $45.69, for a total transaction of $2,284,500.00. The disclosure for this sale can be found here. Insiders have sold 89,105 shares of company stock valued at $4,248,009 in the last ninety days. Insiders own 0.69% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Ingersoll Rand by 53.6% during the second quarter. Morgan Stanley now owns 1,545,803 shares of the industrial products company’s stock valued at $75,451,000 after buying an additional 539,523 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Ingersoll Rand by 1.1% during the second quarter. Bank of America Corp DE now owns 1,547,787 shares of the industrial products company’s stock valued at $75,547,000 after buying an additional 16,944 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Ingersoll Rand by 2.5% during the third quarter. Crossmark Global Holdings Inc. now owns 18,263 shares of the industrial products company’s stock valued at $921,000 after buying an additional 440 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Ingersoll Rand by 4.1% during the third quarter. Park Avenue Securities LLC now owns 11,270 shares of the industrial products company’s stock valued at $568,000 after buying an additional 439 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Ingersoll Rand by 17.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 217,521 shares of the industrial products company’s stock valued at $11,180,000 after buying an additional 32,557 shares during the last quarter. 96.08% of the stock is currently owned by institutional investors and hedge funds.

Ingersoll Rand Company Profile (Get Rating)

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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