Ingersoll-Rand PLC (IR) Expected to Post Quarterly Sales of $3.15 Billion

Wall Street brokerages forecast that Ingersoll-Rand PLC (NYSE:IR) will post $3.15 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Ingersoll-Rand’s earnings. The lowest sales estimate is $3.10 billion and the highest is $3.21 billion. Ingersoll-Rand posted sales of $3.00 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Ingersoll-Rand will report full-year sales of $3.15 billion for the current year, with estimates ranging from $14.91 billion to $15.06 billion. For the next financial year, analysts forecast that the firm will post sales of $15.59 billion per share, with estimates ranging from $15.53 billion to $15.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.01). Ingersoll-Rand had a return on equity of 16.91% and a net margin of 9.17%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the business posted $0.84 earnings per share. Ingersoll-Rand’s revenue was up 7.7% on a year-over-year basis.

Several brokerages recently issued reports on IR. Royal Bank of Canada cut their price target on shares of Ingersoll-Rand from $93.00 to $91.00 and set a “sector perform” rating for the company in a report on Thursday, October 26th. BMO Capital Markets lifted their price target on shares of Ingersoll-Rand to $115.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their price target on shares of Ingersoll-Rand from $101.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Barclays began coverage on shares of Ingersoll-Rand in a report on Thursday, February 15th. They set an “overweight” rating and a $111.00 price target for the company. Finally, Morgan Stanley downgraded shares of Ingersoll-Rand from an “overweight” rating to an “equal weight” rating and set a $98.00 price target for the company. in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $103.08.

In other Ingersoll-Rand news, Director Jared L. Cohon sold 2,350 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $92.40, for a total value of $217,140.00. Following the completion of the transaction, the director now directly owns 25,766 shares of the company’s stock, valued at $2,380,778.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael W. Lamach sold 210,508 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $88.28, for a total transaction of $18,583,646.24. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. HM Payson & Co. acquired a new stake in shares of Ingersoll-Rand during the 4th quarter worth approximately $504,000. Csenge Advisory Group grew its position in shares of Ingersoll-Rand by 29.8% during the 4th quarter. Csenge Advisory Group now owns 8,273 shares of the industrial products company’s stock worth $738,000 after buying an additional 1,901 shares during the period. Martin & Co. Inc. TN grew its position in shares of Ingersoll-Rand by 1.3% during the 4th quarter. Martin & Co. Inc. TN now owns 83,570 shares of the industrial products company’s stock worth $7,454,000 after buying an additional 1,085 shares during the period. Fort Point Capital Partners LLC acquired a new stake in shares of Ingersoll-Rand during the 4th quarter worth approximately $221,000. Finally, Gotham Asset Management LLC grew its position in shares of Ingersoll-Rand by 91.9% during the 4th quarter. Gotham Asset Management LLC now owns 414,992 shares of the industrial products company’s stock worth $37,013,000 after buying an additional 198,717 shares during the period. 78.90% of the stock is owned by institutional investors.

Ingersoll-Rand (NYSE:IR) opened at $91.03 on Tuesday. Ingersoll-Rand has a 1-year low of $77.26 and a 1-year high of $97.67. The stock has a market cap of $22,750.00, a PE ratio of 17.61, a P/E/G ratio of 1.95 and a beta of 1.33. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.41.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 8th. Ingersoll-Rand’s dividend payout ratio is presently 34.82%.

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Ingersoll-Rand Company Profile

Ingersoll-Rand Public Limited Company provides products, services and solutions to improve the quality and comfort of air in homes and buildings, transport and protect food and perishables. The Company’s business segments include Climate and Industrial. It is engaged in the design, manufacture, sale and service of a portfolio of industrial and commercial products that include brand names, such as Ingersoll-Rand, Trane, American Standard, ARO and Club Car.

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

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