iRobot (NASDAQ:IRBT) Issues FY 2022 Earnings Guidance

iRobot (NASDAQ:IRBTGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $1.50-$2.10 for the period, compared to the consensus EPS estimate of $1.59. The company issued revenue guidance of $1.64 billion-$1.74 billion, compared to the consensus revenue estimate of $1.77 billion.

A number of brokerages have recently weighed in on IRBT. StockNews.com lowered shares of iRobot from a hold rating to a sell rating in a research note on Saturday, April 30th. Zacks Investment Research raised shares of iRobot from a sell rating to a hold rating and set a $63.00 price target for the company in a research note on Monday, March 21st. Northland Securities raised shares of iRobot from a market perform rating to an outperform rating and set a $85.00 price target for the company in a research note on Thursday, March 24th. Citigroup reaffirmed a hold rating and issued a $80.00 price target on shares of iRobot in a research note on Friday, February 11th. Finally, JPMorgan Chase & Co. lowered shares of iRobot from a neutral rating to an underweight rating and reduced their price target for the stock from $65.00 to $45.00 in a research note on Friday, May 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, iRobot presently has a consensus rating of Hold and a consensus target price of $68.25.

IRBT stock opened at $47.27 on Wednesday. iRobot has a 12 month low of $46.06 and a 12 month high of $106.65. The firm has a market cap of $1.28 billion, a PE ratio of -143.24, a P/E/G ratio of 0.51 and a beta of 1.30. The firm has a 50 day simple moving average of $57.24 and a 200 day simple moving average of $66.69.

iRobot (NASDAQ:IRBTGet Rating) last released its earnings results on Wednesday, May 4th. The industrial products company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($1.35) by $0.69. iRobot had a negative net margin of 0.48% and a negative return on equity of 1.45%. The business had revenue of $291.97 million during the quarter, compared to analyst estimates of $302.46 million. During the same period in the prior year, the business earned $0.23 earnings per share. The business’s quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that iRobot will post 2.02 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in IRBT. Norges Bank acquired a new stake in shares of iRobot during the fourth quarter valued at approximately $17,647,000. Morgan Stanley raised its holdings in shares of iRobot by 44.5% during the second quarter. Morgan Stanley now owns 316,921 shares of the industrial products company’s stock valued at $29,597,000 after acquiring an additional 97,659 shares during the period. Legal & General Group Plc raised its holdings in shares of iRobot by 17.3% during the fourth quarter. Legal & General Group Plc now owns 486,547 shares of the industrial products company’s stock valued at $32,054,000 after acquiring an additional 71,635 shares during the period. State Street Corp raised its holdings in shares of iRobot by 1.3% during the fourth quarter. State Street Corp now owns 929,690 shares of the industrial products company’s stock valued at $61,248,000 after acquiring an additional 12,266 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in shares of iRobot by 33.9% during the fourth quarter. Penserra Capital Management LLC now owns 8,067 shares of the industrial products company’s stock valued at $496,000 after acquiring an additional 2,042 shares during the period. Institutional investors and hedge funds own 90.86% of the company’s stock.

iRobot Company Profile (Get Rating)

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.

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