Ingersoll-Rand (NYSE:IR) Releases FY19 Earnings Guidance

Ingersoll-Rand (NYSE:IR) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.35-6.40 for the period, compared to the Thomson Reuters consensus estimate of $6.39. Ingersoll-Rand also updated its FY 2019 guidance to $6.35-6.40 EPS.

NYSE:IR traded down $0.85 on Friday, reaching $120.88. The stock had a trading volume of 1,271,556 shares, compared to its average volume of 1,459,296. The stock has a market cap of $30.53 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $124.82. Ingersoll-Rand has a 12-month low of $85.15 and a 12-month high of $128.31.

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

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

A number of research analysts have issued reports on IR shares. BMO Capital Markets upped their target price on shares of Ingersoll-Rand from $112.00 to $140.00 and gave the company an outperform rating in a report on Monday, May 6th. Zacks Investment Research downgraded shares of Ingersoll-Rand from a buy rating to a hold rating in a research note on Tuesday, May 14th. Deutsche Bank raised shares of Ingersoll-Rand from a hold rating to a buy rating and set a $123.46 price objective for the company in a research note on Wednesday, May 1st. ValuEngine downgraded shares of Ingersoll-Rand from a buy rating to a hold rating in a research note on Thursday. Finally, Jefferies Financial Group downgraded shares of Ingersoll-Rand from a buy rating to a hold rating and set a $140.00 price objective for the company. in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Ingersoll-Rand currently has a consensus rating of Buy and a consensus price target of $128.70.

In related news, CEO Michael W. Lamach sold 146,733 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $125.00, for a total transaction of $18,341,625.00. Following the completion of the sale, the chief executive officer now owns 356,238 shares of the company’s stock, valued at approximately $44,529,750. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Evan M. Turtz sold 3,770 shares of the 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 sale, the insider now directly owns 15,549 shares of the company’s stock, valued at approximately $1,990,272. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

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.

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

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