Zacks: Analysts Expect Ingersoll-Rand PLC (NYSE:IR) to Post $1.92 Earnings Per Share

Equities analysts expect that Ingersoll-Rand PLC (NYSE:IR) will post earnings of $1.92 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Ingersoll-Rand’s earnings, with estimates ranging from $1.90 to $1.94. Ingersoll-Rand reported earnings of $1.75 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that Ingersoll-Rand will report full year earnings of $6.40 per share for the current year, with EPS estimates ranging from $6.34 to $6.41. For the next fiscal year, analysts forecast that the company will report earnings of $7.08 per share, with EPS estimates ranging from $6.90 to $7.39. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.57 billion. Ingersoll-Rand had a return on equity of 20.97% and a net margin of 8.89%. Ingersoll-Rand’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.85 earnings per share.

IR has been the subject of a number of analyst reports. Barclays increased their price target on Ingersoll-Rand from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Deutsche Bank raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $123.46 price target for the company in a report on Wednesday, May 1st. Wells Fargo & Co increased their price target on Ingersoll-Rand from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. KeyCorp increased their price target on Ingersoll-Rand from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Cowen reissued a “buy” rating and issued a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Ingersoll-Rand presently has a consensus rating of “Buy” and an average price target of $128.70.

IR traded up $0.69 on Monday, reaching $118.57. The company’s stock had a trading volume of 847,161 shares, compared to its average volume of 1,439,393. The stock has a market cap of $28.13 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. Ingersoll-Rand has a 1 year low of $85.15 and a 1 year high of $128.31. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 0.85. The business’s 50 day moving average is $122.78 and its 200 day moving average is $115.96.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 5th. Ingersoll-Rand’s payout ratio is currently 37.79%.

In other Ingersoll-Rand news, Director Jared L. Cohon sold 938 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $119.07, for a total transaction of $111,687.66. Following the sale, the director now owns 23,697 shares in the company, valued at $2,821,601.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael W. Lamach sold 146,733 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $125.00, for a total value of $18,341,625.00. Following the sale, the chief executive officer now owns 356,238 shares in the company, valued at approximately $44,529,750. The disclosure for this sale can be found here. Insiders have sold 151,441 shares of company stock worth $18,935,873 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in IR. QCI Asset Management Inc. NY acquired a new stake in shares of Ingersoll-Rand during the 2nd quarter worth approximately $26,000. WP Advisors LLC acquired a new stake in shares of Ingersoll-Rand during the 1st quarter worth approximately $34,000. Arrow Financial Corp raised its position in shares of Ingersoll-Rand by 232.6% during the 2nd quarter. Arrow Financial Corp now owns 286 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 200 shares during the period. AdvisorNet Financial Inc raised its position in shares of Ingersoll-Rand by 92.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 294 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 141 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Ingersoll-Rand during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

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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