Ingersoll Rand (IR) Scheduled to Post Quarterly Earnings on Thursday

Ingersoll Rand (NYSE:IR) is scheduled to announce its earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.80 per share for the quarter. Ingersoll Rand has set its FY24 guidance at $3.27-3.37 EPS and its FY 2024 guidance at 3.270-3.370 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.78 billion. Ingersoll Rand had a net margin of 11.73% and a return on equity of 13.00%. 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 Down 2.1 %

NYSE IR opened at $96.39 on Thursday. The company has a quick ratio of 1.52, a current ratio of 2.18 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $94.60 and a two-hundred day moving average of $93.29. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 47.96, a PEG ratio of 2.72 and a beta of 1.42. Ingersoll Rand has a 52 week low of $59.20 and a 52 week high of $102.74.

Ingersoll Rand Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.08%. The ex-dividend date was Thursday, August 15th. Ingersoll Rand’s payout ratio is 3.98%.

Insider Activity

In other news, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $92.51, for a total transaction of $4,625,500.00. Following the transaction, the insider now owns 100,367 shares in the company, valued at $9,284,951.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Andrew R. Schiesl sold 15,381 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $89.74, for a total value of $1,380,290.94. Following the sale, the insider now owns 39,486 shares in the company, valued at $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicente Reynal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $92.51, for a total value of $4,625,500.00. Following the completion of the sale, the insider now owns 100,367 shares in the company, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,510 shares of company stock worth $7,108,005 over the last 90 days. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Ingersoll Rand from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Cfra boosted their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $109.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Evercore ISI lowered their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Wolfe Research upgraded Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Ingersoll Rand has an average rating of “Moderate Buy” and a consensus price target of $102.17.

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.