Ingersoll-Rand (IR) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Ingersoll-Rand (NYSE:IR) released its quarterly earnings results on Wednesday. The industrial products company reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.04, MarketWatch Earnings reports. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Ingersoll-Rand had a net margin of 9.28% and a return on equity of 18.11%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 earnings per share. Ingersoll-Rand updated its FY 2018 guidance to $5.55-5.60 EPS and its FY18 guidance to $5.55-5.60 EPS.

Ingersoll-Rand stock opened at $95.52 on Friday. Ingersoll-Rand has a one year low of $79.63 and a one year high of $105.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.30 and a quick ratio of 0.93. The stock has a market cap of $22.81 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.22%. The ex-dividend date is Thursday, December 6th. Ingersoll-Rand’s payout ratio is 47.01%.

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Ingersoll-Rand from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, August 30th. Credit Suisse Group initiated coverage on shares of Ingersoll-Rand in a research note on Friday, October 12th. They issued an “outperform” rating and a $108.00 target price for the company. Cowen reaffirmed a “buy” rating and issued a $115.00 target price on shares of Ingersoll-Rand in a research note on Monday, September 10th. Morgan Stanley initiated coverage on Ingersoll-Rand in a research report on Monday, August 20th. They set an “overweight” rating and a $111.00 price objective for the company. Finally, Zacks Investment Research raised Ingersoll-Rand from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Sunday, July 15th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $109.15.

In other news, SVP Marcia J. Avedon sold 10,408 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $104.00, for a total transaction of $1,082,432.00. Following the completion of the transaction, the senior vice president now directly owns 125,098 shares in the company, valued at approximately $13,010,192. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

Ingersoll-Rand declared that its Board of Directors has approved a stock buyback program on Wednesday, October 3rd that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Ingersoll-Rand

Ingersoll-Rand plc designs, manufactures, sells, and services industrial and commercial products. It operates through Climate and Industrial segments. The Climate segment offers building management, bus, rail, and multi-pipe HVAC, control, container and cryogenic, diesel-powered, ductless, geothermal, package heating and cooling, rail and self-powered truck refrigeration, temporary heating and cooling, trailer refrigeration, unitary, and vehicle-powered truck refrigeration systems.

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Earnings History for Ingersoll-Rand (NYSE:IR)

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