Ingersoll Rand (NYSE:IR) Issues FY24 Earnings Guidance

by · The Cerbat Gem

Ingersoll Rand (NYSE:IR – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $3.28-3.34 for the period, compared to the consensus EPS estimate of $3.32. The company issued revenue guidance of ~$7.22-7.36 billion, compared to the consensus revenue estimate of $7.34 billion. Ingersoll Rand also updated its FY 2024 guidance to 3.280-3.340 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped 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 cut their target price on shares of Ingersoll Rand from $93.00 to $88.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Barclays upped their target price on shares of Ingersoll Rand from $101.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of Ingersoll Rand in a research note on Friday, September 6th. They issued an “equal weight” rating and a $97.00 target price on the stock. Finally, Wells Fargo & Company upped 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. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.17.

View Our Latest Stock Report on IR

Ingersoll Rand Stock Performance

Shares of NYSE:IR traded down $2.03 during trading on Friday, reaching $93.97. 3,880,988 shares of the company’s stock traded hands, compared to its average volume of 1,963,271. Ingersoll Rand has a 12 month low of $62.12 and a 12 month high of $102.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.18 and a quick ratio of 1.52. The stock has a market capitalization of $37.92 billion, a P/E ratio of 45.84, a price-to-earnings-growth ratio of 2.63 and a beta of 1.42. The company has a 50 day moving average of $95.32 and a 200-day moving average of $93.50.

Ingersoll Rand (NYSE:IR – Get Free Report) last posted its earnings results 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. Ingersoll Rand had a net margin of 11.72% and a return on equity of 13.14%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities analysts expect that Ingersoll Rand will post 3.21 EPS for the current year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Thursday, November 14th. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Insiders Place Their Bets

In other Ingersoll Rand 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 value of $4,625,500.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, 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 directly owns 100,367 shares of the company’s stock, valued at approximately $9,284,951.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,380,290.94. Following the completion of the sale, the insider now directly owns 39,486 shares of the company’s stock, valued at approximately $3,543,473.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,510 shares of company stock worth $7,108,005. Insiders own 0.68% of the company’s stock.

About Ingersoll Rand

(Get Free Report)

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.

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