Ingersoll Rand (IR) Set to Announce Quarterly Earnings on Thursday

Ingersoll Rand (NYSE:IR) will be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect Ingersoll Rand to post earnings of $0.67 per share for the quarter. Ingersoll Rand has set its FY24 guidance at $3.14-3.24 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. On average, analysts expect Ingersoll Rand to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Ingersoll Rand Stock Performance

IR opened at $93.37 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.67. The business has a fifty day simple moving average of $91.78 and a 200 day simple moving average of $80.05. Ingersoll Rand has a 1 year low of $55.86 and a 1 year high of $96.17. The company has a market capitalization of $37.67 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 3.26 and a beta of 1.44.

Ingersoll Rand declared that its board has approved a share repurchase program on Thursday, April 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Ingersoll Rand Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a $0.02 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Insider Buying and Selling at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the transaction, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Vicente Reynal sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $90.16, for a total transaction of $21,638,400.00. Following the sale, the insider now directly owns 91,957 shares in the company, valued at $8,290,843.12. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock worth $26,374,789 over the last quarter. Corporate insiders own 0.83% of the company’s stock.

Analyst Ratings Changes

IR has been the topic of a number of analyst reports. UBS Group increased their target price on shares of Ingersoll Rand from $78.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Wells Fargo & Company increased their price target on Ingersoll Rand from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. BNP Paribas assumed coverage on Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. The Goldman Sachs Group increased their target price on Ingersoll Rand from $87.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Barclays boosted their price target on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

About Ingersoll Rand

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.