Analysts on Wall Street project that Ingersoll Rand (IR) will announce quarterly earnings of $0.86 per share in its forthcoming report, representing an increase of 2.4% year over year. Revenues are projected to reach $1.95 billion, increasing 4.6% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 3.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Ingersoll metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Precision and Science Technologies' reaching $411.42 million. The estimate indicates a change of +4.5% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Industrial Technologies and Services' should come in at $1.53 billion. The estimate indicates a change of +4.5% from the prior-year quarter.
The combined assessment of analysts suggests that 'Adjusted EBITDA- Precision & Science Technologies' will likely reach $125.52 million. The estimate is in contrast to the year-ago figure of $118.10 million.
Analysts expect 'Adjusted EBITDA- Industrial Technologies & Services' to come in at $452.81 million. The estimate is in contrast to the year-ago figure of $449.90 million.
View all Key Company Metrics for Ingersoll here>>>
Over the past month, shares of Ingersoll have returned -4.6% versus the Zacks S&P 500 composite's +3.8% change. Currently, IR carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Ingersoll Rand Inc. (IR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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