Ingersoll-Rand (NYSE:IR) Updates FY 2019 Earnings Guidance

Ingersoll-Rand (NYSE:IR) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.35-6.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.38. Ingersoll-Rand also updated its FY19 guidance to $6.35-6.40 EPS.

Several brokerages have commented on IR. 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. Jefferies Financial Group cut Ingersoll-Rand from a buy rating to a hold rating and set a $140.00 price target on the stock. in a report on Tuesday, July 2nd. ValuEngine cut Ingersoll-Rand from a buy rating to a hold rating in a report on Thursday. Cowen reissued a buy rating and set a $131.00 price target on shares of Ingersoll-Rand in a report on Tuesday. Finally, Morgan Stanley increased their price target on Ingersoll-Rand from $137.00 to $139.00 and gave the company an overweight rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $128.70.

NYSE:IR traded down $0.85 on Friday, reaching $120.88. 6,739 shares of the company’s stock traded hands, compared to its average volume of 1,286,908. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.14 and a current ratio of 1.23. The stock’s 50-day moving average is $124.89. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.86 and a beta of 1.26. Ingersoll-Rand has a 12 month low of $85.15 and a 12 month high of $128.31.

Ingersoll-Rand (NYSE:IR) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.06 by $0.03. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.57 billion. Ingersoll-Rand had a return on equity of 20.32% and a net margin of 8.89%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 earnings per share. As a group, sell-side analysts expect that Ingersoll-Rand will post 6.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.75%. Ingersoll-Rand’s payout ratio is 37.79%.

In other Ingersoll-Rand news, insider Evan M. Turtz sold 3,770 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $128.00, for a total transaction of $482,560.00. Following the completion of the transaction, the insider now owns 15,549 shares in the company, valued at $1,990,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael W. Lamach sold 146,733 shares of the business’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 transaction, the chief executive officer now owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The disclosure for this sale can be found here. Company insiders own 0.70% 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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