$243.89 Million in Sales Expected for iRobot Co. (IRBT) This Quarter

Brokerages forecast that iRobot Co. (NASDAQ:IRBT) will announce $243.89 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for iRobot’s earnings, with estimates ranging from $239.90 million to $248.47 million. iRobot posted sales of $205.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.7%. The business is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 23rd.

On average, analysts expect that iRobot will report full-year sales of $1.07 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.08 billion. For the next financial year, analysts forecast that the firm will post sales of $1.24 billion, with estimates ranging from $1.18 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for iRobot.

iRobot (NASDAQ:IRBT) last announced its earnings results on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.20. iRobot had a return on equity of 13.27% and a net margin of 5.90%. The firm had revenue of $226.30 million for the quarter, compared to the consensus estimate of $219.71 million. During the same quarter in the previous year, the business earned $0.27 EPS. The company’s revenue was up 23.6% compared to the same quarter last year.

A number of equities analysts have recently weighed in on IRBT shares. ValuEngine upgraded iRobot from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Sidoti downgraded iRobot from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 4th. They noted that the move was a valuation call. Dougherty & Co reiterated a “neutral” rating on shares of iRobot in a research note on Thursday, July 26th. Canaccord Genuity reiterated a “hold” rating and issued a $80.00 price objective on shares of iRobot in a research note on Friday, August 10th. Finally, BidaskClub downgraded iRobot from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 21st. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.00.

Shares of NASDAQ IRBT traded up $0.46 during midday trading on Monday, reaching $108.47. The company’s stock had a trading volume of 18,527 shares, compared to its average volume of 865,946. iRobot has a 12-month low of $55.77 and a 12-month high of $118.75. The company has a market capitalization of $2.93 billion, a PE ratio of 61.90, a PEG ratio of 2.10 and a beta of 1.47.

In other iRobot news, EVP Glen Daniel Weinstein sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $96.77, for a total transaction of $967,700.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mohamad Ali sold 542 shares of the business’s stock in a transaction on Friday, July 13th. The shares were sold at an average price of $80.94, for a total transaction of $43,869.48. Following the sale, the director now directly owns 13,032 shares in the company, valued at approximately $1,054,810.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,784 shares of company stock worth $19,484,412. 4.49% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Psagot Investment House Ltd. bought a new stake in iRobot during the 2nd quarter valued at $111,000. PNC Financial Services Group Inc. increased its holdings in shares of iRobot by 74.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $118,000 after purchasing an additional 663 shares during the period. Quantbot Technologies LP bought a new position in shares of iRobot in the first quarter worth $134,000. Janney Montgomery Scott LLC bought a new position in shares of iRobot in the second quarter worth $202,000. Finally, Modera Wealth Management LLC bought a new position in shares of iRobot in the second quarter worth $227,000. 83.21% of the stock is currently owned by institutional investors and hedge funds.

About iRobot

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stair.

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Earnings History and Estimates for iRobot (NASDAQ:IRBT)

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