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.
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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