iRobot (NASDAQ:IRBT) Updates FY 2024 Earnings Guidance

iRobot (NASDAQ:IRBT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -4.910–4.600 for the period, compared to the consensus earnings per share estimate of -3.590. The company issued revenue guidance of $685.0 million-$710.0 million. iRobot also updated its FY24 guidance to ($4.91)-($4.60) EPS.

iRobot Price Performance

Shares of IRBT stock traded up $0.05 during trading hours on Friday, hitting $6.97. 2,432,894 shares of the company’s stock were exchanged, compared to its average volume of 1,817,597. iRobot has a 12-month low of $5.83 and a 12-month high of $42.14. The company has a market capitalization of $210.71 million, a PE ratio of -1.44 and a beta of 0.86. The business’s 50 day simple moving average is $7.88 and its 200-day simple moving average is $8.89. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($0.19). iRobot had a negative return on equity of 128.49% and a negative net margin of 25.29%. The business had revenue of $166.40 million during the quarter, compared to the consensus estimate of $168.73 million. During the same period in the prior year, the firm earned ($1.73) earnings per share. The business’s revenue for the quarter was down 29.7% on a year-over-year basis. On average, equities research analysts anticipate that iRobot will post -4.43 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on IRBT. Needham & Company LLC restated a “hold” rating on shares of iRobot in a report on Thursday. StockNews.com lowered iRobot from a “hold” rating to a “sell” rating in a research note on Sunday, October 27th.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.