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

Ingersoll Rand (NYSE:IR) is set to post its quarterly 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last issued 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. Ingersoll Rand had a return on equity of 12.24% and a net margin of 11.32%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. 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 Price Performance

Shares of NYSE IR opened at $92.50 on Thursday. The company has a 50 day simple moving average of $91.54 and a two-hundred day simple moving average of $79.36. Ingersoll Rand has a fifty-two week low of $53.24 and a fifty-two week high of $96.17. The company has a market capitalization of $37.32 billion, a price-to-earnings ratio of 48.68, a P/E/G ratio of 3.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22.

Ingersoll Rand Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Wednesday, March 6th. Ingersoll Rand’s dividend payout ratio (DPR) is presently 4.21%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IR shares. Cfra increased their target price on Ingersoll Rand from $68.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Stifel Nicolaus restated a “buy” rating and set a $102.00 price objective on shares of Ingersoll Rand in a research note on Tuesday, March 26th. Citigroup upped their target price on shares of Ingersoll Rand from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. The Goldman Sachs Group raised their price target on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, BNP Paribas began coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They issued a “neutral” rating and a $92.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Insiders Place Their Bets

In related news, insider Andrew R. Schiesl sold 35,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $89.46, for a total transaction of $3,131,100.00. Following the completion of the sale, the insider now owns 16,525 shares in the company, valued at $1,478,326.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Andrew R. Schiesl sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $89.46, for a total value of $3,131,100.00. Following the transaction, the insider now owns 16,525 shares of the company’s stock, valued at $1,478,326.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vicente Reynal sold 240,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 of the company’s stock, valued at $8,290,843.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,011 shares of company stock valued at $26,374,789. Company insiders own 0.83% of the company’s stock.

Ingersoll Rand Company Profile

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.