Ingersoll Rand (IR) Scheduled to Post Earnings on Thursday

Ingersoll Rand (NYSE:IR) will be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect Ingersoll Rand to post earnings of $0.67 per share for the quarter. Ingersoll Rand has set its FY24 guidance at $3.14-3.24 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Ingersoll Rand (NYSE:IR) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ingersoll Rand had a net margin of 11.32% and a return on equity of 12.24%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.76 billion. 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 Performance

NYSE:IR opened at $93.37 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.22. The firm’s 50-day moving average is $91.78 and its 200-day moving average is $80.05. Ingersoll Rand has a 52-week low of $55.86 and a 52-week high of $96.17. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 3.26 and a beta of 1.44.

Ingersoll Rand announced that its Board of Directors has approved a share buyback program on Thursday, April 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.08 annualized dividend and a yield of 0.09%. Ingersoll Rand’s dividend payout ratio is 4.21%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. BNP Paribas assumed coverage on shares of Ingersoll Rand in a report on Tuesday, March 12th. They set a “neutral” rating and a $92.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of Ingersoll Rand from $87.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Citigroup raised their price target 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, Cfra upped their price objective on Ingersoll Rand from $68.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Four 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Insider Transactions at Ingersoll Rand

In related news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $88.00, for a total transaction of $667,920.00. Following the completion of the sale, the chief accounting officer now directly owns 9,715 shares of the company’s stock, valued at approximately $854,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ingersoll Rand news, CAO Michael J. Scheske sold 7,590 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $88.00, for a total value of $667,920.00. Following the completion of the sale, the chief accounting officer now owns 9,715 shares in the company, valued at approximately $854,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew R. Schiesl sold 10,421 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $89.95, for a total transaction of $937,368.95. Following the transaction, the insider now owns 48,904 shares in the company, valued at $4,398,914.80. The disclosure for this sale can be found here. Insiders have sold 293,011 shares of company stock valued at $26,374,789 in the last three months. 0.83% of the stock is owned by corporate insiders.

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.