Analysts Expect Ingersoll Rand Inc. (NYSE:IR) Will Post Earnings of $0.49 Per Share

Equities analysts expect Ingersoll Rand Inc. (NYSE:IR) to report $0.49 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Ingersoll Rand’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.47. Ingersoll Rand reported earnings per share of $0.40 during the same quarter last year, which indicates a positive year-over-year growth rate of 22.5%. The business is scheduled to report its next quarterly earnings report on Monday, November 1st.

According to Zacks, analysts expect that Ingersoll Rand will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.84 to $1.90. For the next fiscal year, analysts forecast that the business will report earnings of $2.21 per share, with EPS estimates ranging from $2.14 to $2.30. Zacks’ EPS 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 results on Wednesday, July 28th. The industrial products company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.49. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.19 billion. Ingersoll Rand had a return on equity of 5.12% and a net margin of 5.91%.

IR has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Ingersoll Rand in a research report on Monday, September 13th. They set a “buy” rating and a $64.00 price target for the company. Credit Suisse Group lifted their target price on shares of Ingersoll Rand from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, July 30th. Morgan Stanley initiated coverage on Ingersoll Rand in a research note on Friday, September 10th. They issued an “overweight” rating and a $60.00 price target on the stock. The Goldman Sachs Group upgraded Ingersoll Rand from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, July 6th. Finally, Vertical Research raised Ingersoll Rand from a “hold” rating to a “buy” rating and increased their target price for the stock from $52.00 to $54.00 in a research note on Thursday, June 17th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Ingersoll Rand presently has an average rating of “Buy” and a consensus price target of $59.13.

In related news, insider Vicente Reynal sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $55.00, for a total transaction of $1,650,000.00. Following the completion of the sale, the insider now directly owns 108,427 shares in the company, valued at $5,963,485. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary E. Gillespie sold 54,975 shares of Ingersoll Rand stock in a transaction on Friday, August 27th. The stock was sold at an average price of $52.88, for a total transaction of $2,907,078.00. Following the transaction, the insider now owns 75,014 shares in the company, valued at approximately $3,966,740.32. The disclosure for this sale can be found here. Insiders sold 129,975 shares of company stock valued at $6,847,128 over the last quarter. Company insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Ingersoll Rand by 0.9% during the 1st quarter. Victory Capital Management Inc. now owns 131,992 shares of the industrial products company’s stock valued at $6,495,000 after buying an additional 1,155 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Ingersoll Rand by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 180,485 shares of the industrial products company’s stock valued at $8,882,000 after acquiring an additional 7,909 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Ingersoll Rand by 0.7% in the first quarter. Arizona State Retirement System now owns 102,357 shares of the industrial products company’s stock worth $5,037,000 after acquiring an additional 704 shares during the period. IndexIQ Advisors LLC grew its position in shares of Ingersoll Rand by 14.5% during the first quarter. IndexIQ Advisors LLC now owns 5,950 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 754 shares in the last quarter. Finally, Swiss National Bank raised its stake in Ingersoll Rand by 1.8% during the 1st quarter. Swiss National Bank now owns 1,363,236 shares of the industrial products company’s stock valued at $67,085,000 after purchasing an additional 23,500 shares during the period. Institutional investors own 95.51% of the company’s stock.

Shares of IR stock opened at $53.51 on Thursday. The company’s fifty day moving average price is $51.37 and its 200-day moving average price is $49.86. The stock has a market cap of $22.48 billion, a PE ratio of 69.49 and a beta of 1.52. The company has a current ratio of 3.13, a quick ratio of 2.70 and a debt-to-equity ratio of 0.41. Ingersoll Rand has a 12 month low of $34.37 and a 12 month high of $55.62.

Ingersoll Rand Company Profile

Ingersoll Rand, Inc provides a broad range of mission critical air, fluid, energy, specialty vehicle and medical technologies, providing services and solutions to increase industrial productivity and efficiency. It operates through the following segments: Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies.

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