Ingersoll Rand (IR) Set to Announce Earnings on Wednesday

Ingersoll Rand (NYSE:IR) will release its earnings data after the market closes on Wednesday, July 31st. Analysts expect Ingersoll Rand to post earnings of $0.74 per share for the quarter. Ingersoll Rand has set its FY24 guidance at $3.20-3.30 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.09. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Ingersoll Rand had a return on equity of 12.57% and a net margin of 11.85%. 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 Up 0.0 %

Shares of IR opened at $98.74 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.71. The stock has a market capitalization of $39.83 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 2.90 and a beta of 1.45. Ingersoll Rand has a 1 year low of $59.20 and a 1 year high of $101.30. The business’s 50 day simple moving average is $93.71 and its 200-day simple moving average is $90.57.

Ingersoll Rand Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Ingersoll Rand announced that its board has authorized a share repurchase program on Thursday, April 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Ingersoll Rand news, insider Vicente Reynal sold 198,486 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $88.11, for a total transaction of $17,488,601.46. Following the transaction, the insider now directly owns 100,367 shares in the company, valued at approximately $8,843,336.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Andrew R. Schiesl sold 22,369 shares of Ingersoll Rand stock in a transaction on Friday, May 17th. The stock was sold at an average price of $92.17, for a total value of $2,061,750.73. Following the transaction, the insider now directly owns 30,846 shares in the company, valued at approximately $2,843,075.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 198,486 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $88.11, for a total value of $17,488,601.46. Following the sale, the insider now owns 100,367 shares of the company’s stock, valued at $8,843,336.37. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of Ingersoll Rand from a “buy” rating to a “hold” rating in a report on Saturday, May 4th. Wells Fargo & Company lifted their target price on Ingersoll Rand from $98.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Robert W. Baird increased their price target on Ingersoll Rand from $107.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Citigroup lifted their price objective 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. Finally, Barclays increased their target price on shares of Ingersoll Rand from $104.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Ingersoll Rand currently has an average rating of “Moderate Buy” and an average price target of $98.17.

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.