Zacks: Analysts Expect Ingersoll-Rand PLC (NYSE:IR) Will Announce Quarterly Sales of $4.15 Billion

Wall Street brokerages expect Ingersoll-Rand PLC (NYSE:IR) to post $4.15 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Ingersoll-Rand’s earnings. The highest sales estimate is $4.19 billion and the lowest is $4.13 billion. Ingersoll-Rand posted sales of $3.90 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, January 29th.

On average, analysts expect that Ingersoll-Rand will report full-year sales of $16.60 billion for the current year, with estimates ranging from $16.58 billion to $16.64 billion. For the next financial year, analysts expect that the company will post sales of $17.21 billion, with estimates ranging from $17.01 billion to $17.35 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Ingersoll-Rand.

Ingersoll-Rand (NYSE:IR) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.08. Ingersoll-Rand had a net margin of 8.38% and a return on equity of 21.72%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Several equities analysts have recently issued reports on IR shares. JPMorgan Chase & Co. reduced their price target on shares of Ingersoll-Rand from $140.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. BMO Capital Markets set a $145.00 price target on shares of Ingersoll-Rand and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley boosted their price target on shares of Ingersoll-Rand from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Wolfe Research downgraded shares of Ingersoll-Rand from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Finally, Cowen reissued a “buy” rating and set a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. Ingersoll-Rand presently has an average rating of “Buy” and an average price target of $137.00.

In related news, EVP David S. Regnery sold 10,645 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $134.90, for a total value of $1,436,010.50. Following the completion of the sale, the executive vice president now owns 63,288 shares of the company’s stock, valued at $8,537,551.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael W. Lamach sold 242,347 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $135.00, for a total transaction of $32,716,845.00. Following the completion of the sale, the chief executive officer now directly owns 452,129 shares of the company’s stock, valued at approximately $61,037,415. The disclosure for this sale can be found here. Insiders sold 282,049 shares of company stock valued at $37,930,655 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Savior LLC bought a new stake in Ingersoll-Rand in the fourth quarter worth about $25,000. NewSquare Capital LLC bought a new stake in Ingersoll-Rand in the fourth quarter worth about $37,000. Global Retirement Partners LLC raised its position in Ingersoll-Rand by 32.0% in the third quarter. Global Retirement Partners LLC now owns 334 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 81 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Ingersoll-Rand in the third quarter worth about $48,000. Finally, Gradient Investments LLC bought a new stake in Ingersoll-Rand in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 79.53% of the company’s stock.

Shares of IR traded down $1.69 during midday trading on Tuesday, hitting $130.60. 1,872,567 shares of the stock traded hands, compared to its average volume of 1,256,994. Ingersoll-Rand has a 1-year low of $93.05 and a 1-year high of $138.33. The firm has a market capitalization of $31.37 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.88 and a current ratio of 1.28. The business’s 50 day moving average price is $132.91 and its two-hundred day moving average price is $125.44.

Ingersoll-Rand Company Profile

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.

See Also: Capital Gains Distribution

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

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