Brokerages Anticipate iRobot (IRBT) Will Announce Earnings of $0.22 Per Share

Equities research analysts predict that iRobot (NASDAQ:IRBT) will report earnings of $0.22 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for iRobot’s earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.15. iRobot posted earnings per share of $0.27 during the same quarter last year, which suggests a negative year-over-year growth rate of 18.5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 24th.

According to Zacks, analysts expect that iRobot will report full year earnings of $2.31 per share for the current year, with EPS estimates ranging from $2.22 to $2.46. For the next financial year, analysts anticipate that the business will post earnings of $2.91 per share, with EPS estimates ranging from $2.79 to $3.06. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow iRobot.

iRobot (NASDAQ:IRBT) last released its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.29. iRobot had a net margin of 5.90% and a return on equity of 13.28%. The business had revenue of $327.00 million for the quarter, compared to the consensus estimate of $319.02 million. During the same period in the prior year, the company posted $0.45 earnings per share. iRobot’s revenue was up 53.9% compared to the same quarter last year.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of iRobot from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Thursday. BidaskClub downgraded shares of iRobot from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase increased their price objective on shares of iRobot from $61.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday. ValuEngine downgraded shares of iRobot from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. Finally, Piper Jaffray upgraded shares of iRobot from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $61.80 to $78.00 in a research note on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.60.

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado acquired a new stake in shares of iRobot in the 4th quarter valued at approximately $152,000. Xact Kapitalforvaltning AB acquired a new stake in shares of iRobot in the 4th quarter valued at approximately $204,000. Elkfork Partners LLC acquired a new stake in shares of iRobot in the 4th quarter valued at approximately $209,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of iRobot in the 4th quarter valued at approximately $226,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of iRobot in the 4th quarter valued at approximately $236,000. Hedge funds and other institutional investors own 88.88% of the company’s stock.

Shares of IRBT stock traded up $1.18 on Thursday, hitting $58.24. The company’s stock had a trading volume of 1,421,932 shares, compared to its average volume of 1,119,523. iRobot has a fifty-two week low of $55.77 and a fifty-two week high of $109.78. The company has a market capitalization of $1,660.33, a PE ratio of 32.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11.

iRobot announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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 stair.

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Earnings History and Estimates for iRobot (NASDAQ:IRBT)

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