Zacks: Brokerages Anticipate iRobot Co. (NASDAQ:IRBT) Will Post Earnings of $0.03 Per Share

Wall Street analysts expect that iRobot Co. (NASDAQ:IRBT) will post earnings of $0.03 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for iRobot’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at $0.22. iRobot reported earnings per share of $0.37 during the same quarter last year, which would indicate a negative year-over-year growth rate of 91.9%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, July 23rd.

According to Zacks, analysts expect that iRobot will report full year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $2.76 to $3.30. For the next fiscal year, analysts anticipate that the business will report earnings of $3.74 per share, with EPS estimates ranging from $3.44 to $4.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover iRobot.

iRobot (NASDAQ:IRBT) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.16. The company had revenue of $237.66 million during the quarter, compared to analyst estimates of $251.40 million. iRobot had a net margin of 8.09% and a return on equity of 17.64%. iRobot’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share.



Several analysts recently weighed in on IRBT shares. JPMorgan Chase & Co. set a €8.75 ($10.17) target price on shares of Commerzbank and gave the company a “buy” rating in a report on Thursday, April 18th. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Northland Securities restated a “buy” rating and set a $130.00 target price on shares of iRobot in a research report on Wednesday. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Citigroup set a $95.00 price objective on shares of iRobot and gave the company a “hold” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $109.36.

In other iRobot news, Director Andrew Miller sold 878 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $91.97, for a total value of $80,749.66. Following the transaction, the director now directly owns 14,199 shares of the company’s stock, valued at approximately $1,305,882.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Colin M. Angle sold 11,486 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $87.07, for a total value of $1,000,086.02. Following the sale, the chief executive officer now directly owns 402,368 shares in the company, valued at $35,034,181.76. The disclosure for this sale can be found here. Insiders sold a total of 23,693 shares of company stock valued at $2,156,268 in the last three months. 3.01% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of iRobot by 16.7% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 700 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 100 shares during the period. State of Alaska Department of Revenue grew its position in iRobot by 1.2% during the first quarter. State of Alaska Department of Revenue now owns 9,368 shares of the industrial products company’s stock worth $1,102,000 after buying an additional 115 shares in the last quarter. LS Investment Advisors LLC grew its position in iRobot by 6.3% during the first quarter. LS Investment Advisors LLC now owns 2,589 shares of the industrial products company’s stock worth $305,000 after buying an additional 153 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in iRobot by 7.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,308 shares of the industrial products company’s stock worth $272,000 after buying an additional 163 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in iRobot by 3.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,404 shares of the industrial products company’s stock worth $754,000 after purchasing an additional 185 shares during the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

Shares of IRBT traded down $1.19 during mid-day trading on Friday, hitting $90.44. 703,457 shares of the company’s stock were exchanged, compared to its average volume of 524,328. The company has a market capitalization of $2.54 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. iRobot has a fifty-two week low of $70.86 and a fifty-two week high of $132.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.97 and a current ratio of 3.22. The company has a 50-day moving average of $90.32.

About iRobot

iRobot Corporation designs, builds, and sells robots for the consumer market worldwide. It offers Roomba floor vacuuming robots; Braava family of automatic floor mopping robots; and Mirra Pool Cleaning Robot to clean residential pools and removes debris as small as two microns from pool floors, walls, and stairs.

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Earnings History and Estimates for iRobot (NASDAQ:IRBT)

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