Ingersoll Rand (IR) to Release Earnings on Thursday

Ingersoll Rand (NYSE:IR) is set to issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.67 per share for the quarter. Ingersoll Rand has set its FY24 guidance at $3.14-3.24 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last released its earnings results on Thursday, February 15th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. On average, analysts expect Ingersoll Rand to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ingersoll Rand Trading Up 2.1 %

Shares of Ingersoll Rand stock opened at $92.50 on Thursday. Ingersoll Rand has a twelve month low of $53.24 and a twelve month high of $96.17. The firm’s 50-day moving average price is $91.54 and its 200 day moving average price is $79.36. The company has a current ratio of 2.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $37.32 billion, a PE ratio of 48.68, a P/E/G ratio of 3.09 and a beta of 1.44.

Ingersoll Rand Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 7th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio is presently 4.21%.

Insider Buying and Selling

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Michael J. Scheske sold 7,590 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the transaction, the chief accounting officer now directly owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vicente Reynal sold 240,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the transaction, the insider now directly owns 91,957 shares of the company’s stock, valued at approximately $8,290,843.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,011 shares of company stock worth $26,374,789. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BNP Paribas initiated coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective on the stock. Evercore ISI lowered shares of Ingersoll Rand from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, February 20th. UBS Group increased their price objective on shares of Ingersoll Rand from $78.00 to $93.00 and gave the company a “buy” rating in a report on Monday, January 29th. The Goldman Sachs Group boosted their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Barclays increased their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.