Zacks: Brokerages Expect iRobot Co. (IRBT) to Post $0.44 EPS

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Analysts expect iRobot Co. (NASDAQ:IRBT) to announce earnings per share of $0.44 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for iRobot’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.40. iRobot posted earnings of $0.60 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 26.7%. The company is expected to issue its next quarterly earnings results on Tuesday, October 23rd.

On average, analysts expect that iRobot will report full year earnings of $2.45 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.50. For the next fiscal year, analysts anticipate that the business will post earnings of $3.08 per share, with EPS estimates ranging from $2.93 to $3.19. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow iRobot.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.20. The company had revenue of $226.30 million during the quarter, compared to analyst estimates of $219.71 million. iRobot had a return on equity of 13.27% and a net margin of 5.90%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share.

IRBT has been the subject of several research analyst reports. BidaskClub raised iRobot from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. Canaccord Genuity restated a “hold” rating and set a $80.00 price target on shares of iRobot in a research report on Friday, August 10th. ValuEngine upgraded iRobot from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 29th. Raymond James downgraded iRobot from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 10th. They noted that the move was a valuation call. Finally, Sidoti downgraded iRobot from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 4th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. iRobot currently has an average rating of “Hold” and an average target price of $74.00.

NASDAQ:IRBT traded down $2.18 during trading hours on Friday, hitting $104.11. 1,866,742 shares of the company’s stock traded hands, compared to its average volume of 883,036. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 58.82, a P/E/G ratio of 2.09 and a beta of 1.47. iRobot has a 52 week low of $55.77 and a 52 week high of $118.75.

In other iRobot news, EVP Glen Daniel Weinstein sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $96.77, for a total transaction of $967,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Russell J. Campanello sold 48,582 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $110.63, for a total value of $5,374,626.66. Following the sale, the executive vice president now owns 86,050 shares in the company, valued at approximately $9,519,711.50. The disclosure for this sale can be found here. Insiders have sold 169,296 shares of company stock worth $17,559,996 in the last 90 days. Company insiders own 4.49% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Psagot Investment House Ltd. purchased a new stake in iRobot during the second quarter valued at about $111,000. PNC Financial Services Group Inc. increased its holdings in shares of iRobot by 74.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,556 shares of the industrial products company’s stock worth $118,000 after buying an additional 663 shares during the period. Quantbot Technologies LP purchased a new position in shares of iRobot in the first quarter worth about $134,000. Janney Montgomery Scott LLC purchased a new position in shares of iRobot in the second quarter worth about $202,000. Finally, Modera Wealth Management LLC purchased a new position in shares of iRobot in the second quarter worth about $227,000. Institutional investors and hedge funds own 83.21% of the company’s stock.

iRobot Company Profile

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 stair.

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