iRobot Corporation (IRBT) Expected to Announce Earnings of $0.43 Per Share

Wall Street brokerages predict that iRobot Corporation (NASDAQ:IRBT) will report earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for iRobot Corporation’s earnings, with estimates ranging from $0.26 to $0.62. iRobot Corporation posted earnings per share of $0.70 during the same quarter last year, which would suggest a negative year-over-year growth rate of 38.6%. The company is scheduled to issue its next earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that iRobot Corporation will report full year earnings of $1.66 per share for the current year, with EPS estimates ranging from $1.47 to $1.90. For the next year, analysts expect that the company will post earnings of $2.63 per share, with EPS estimates ranging from $2.50 to $2.80. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow iRobot Corporation.

iRobot Corporation (NASDAQ:IRBT) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.55. The company had revenue of $183.14 million during the quarter, compared to analyst estimates of $174.65 million. iRobot Corporation had a return on equity of 14.05% and a net margin of 7.84%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share.

Several equities research analysts have recently commented on IRBT shares. BidaskClub lowered iRobot Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of iRobot Corporation in a report on Saturday, April 22nd. Zacks Investment Research downgraded shares of iRobot Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $90.00 target price on shares of iRobot Corporation in a report on Wednesday, April 26th. Finally, Dougherty & Co downgraded shares of iRobot Corporation from a “buy” rating to a “neutral” rating in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. iRobot Corporation has a consensus rating of “Hold” and an average price target of $73.63.

iRobot Corporation (IRBT) traded down 1.62% during midday trading on Wednesday, reaching $105.51. The company had a trading volume of 1,012,751 shares. The firm has a 50-day moving average price of $92.38 and a 200-day moving average price of $76.03. iRobot Corporation has a 52 week low of $37.57 and a 52 week high of $109.78. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 51.75 and a beta of 1.14.

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In other iRobot Corporation news, Director Ronald Chwang sold 3,397 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $84.17, for a total transaction of $285,925.49. Following the completion of the transaction, the director now owns 24,519 shares of the company’s stock, valued at approximately $2,063,764.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Colin M. Angle sold 5,886 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $106.20, for a total transaction of $625,093.20. Following the transaction, the chief executive officer now directly owns 489,463 shares of the company’s stock, valued at approximately $51,980,970.60. The disclosure for this sale can be found here. Insiders sold a total of 143,793 shares of company stock valued at $13,933,376 in the last ninety days. 4.49% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in iRobot Corporation by 14.0% in the second quarter. Creative Planning now owns 1,317 shares of the industrial products company’s stock valued at $111,000 after buying an additional 162 shares during the period. PNC Financial Services Group Inc. increased its position in iRobot Corporation by 16.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,988 shares of the industrial products company’s stock valued at $132,000 after buying an additional 277 shares during the period. NEXT Financial Group Inc increased its position in iRobot Corporation by 14.0% in the first quarter. NEXT Financial Group Inc now owns 1,780 shares of the industrial products company’s stock valued at $142,000 after buying an additional 219 shares during the period. Ameritas Investment Partners Inc. bought a new position in iRobot Corporation during the first quarter valued at approximately $153,000. Finally, LS Investment Advisors LLC increased its position in iRobot Corporation by 151.1% in the first quarter. LS Investment Advisors LLC now owns 2,601 shares of the industrial products company’s stock valued at $172,000 after buying an additional 1,565 shares during the period. 88.03% of the stock is owned by institutional investors and hedge funds.

About iRobot Corporation

iRobot Corporation is a consumer robot company, which is engaged in designing and building robots. The Company’s portfolio of solutions features various technologies for the connected home and various concepts in mapping, navigation, mobility and artificial intelligence. The Company sells various products that are designed for use at home.

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