$302.44 Million in Sales Expected for iRobot Co. (NASDAQ:IRBT) This Quarter
Wall Street analysts predict that iRobot Co. (NASDAQ:IRBT - Get Rating) will announce $302.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for iRobot's earnings. The lowest sales estimate is $299.63 million and the highest is $306.29 million. iRobot posted sales of $303.26 million in the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The business is expected to report its next earnings report on Monday, May 2nd.
On average, analysts expect that iRobot will report full-year sales of $1.79 billion for the current fiscal year, with estimates ranging from $1.77 billion to $1.80 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.03 billion, with estimates ranging from $2.01 billion to $2.06 billion. Zacks' sales averages are an average based on a survey of analysts that follow iRobot.
iRobot (NASDAQ:IRBT - Get Rating) last posted its quarterly earnings results on Wednesday, February 9th. The industrial products company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.02. The business had revenue of $455.45 million during the quarter, compared to analyst estimates of $462.28 million. iRobot had a net margin of 1.94% and a return on equity of 2.56%. During the same period in the prior year, the business posted $0.60 earnings per share.
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A number of analysts have recently weighed in on IRBT shares. StockNews.com lowered shares of iRobot from a "hold" rating to a "sell" rating in a report on Friday, February 11th. Northland Securities dropped their target price on shares of iRobot from $100.00 to $85.00 in a report on Friday, February 11th. TheStreet lowered shares of iRobot from a "b-" rating to a "c+" rating in a report on Tuesday, November 30th. Zacks Investment Research lowered shares of iRobot from a "hold" rating to a "strong sell" rating and set a $58.00 target price for the company. in a report on Tuesday, January 4th. Finally, Citigroup reissued a "hold" rating and issued a $80.00 price target on shares of iRobot in a research note on Friday, February 11th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $81.50.
In related news, CEO Colin M. Angle sold 23,200 shares of the stock in a transaction dated Thursday, January 13th. The shares were sold at an average price of $70.04, for a total value of $1,624,928.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in shares of iRobot during the fourth quarter valued at approximately $17,647,000. Vident Investment Advisory LLC increased its stake in shares of iRobot by 14.8% during the fourth quarter. Vident Investment Advisory LLC now owns 448,499 shares of the industrial products company's stock valued at $29,547,000 after purchasing an additional 57,759 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of iRobot by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 38,327 shares of the industrial products company's stock valued at $2,525,000 after purchasing an additional 226 shares in the last quarter. Connors Investor Services Inc. increased its stake in shares of iRobot by 93.3% during the fourth quarter. Connors Investor Services Inc. now owns 48,476 shares of the industrial products company's stock valued at $3,194,000 after purchasing an additional 23,403 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of iRobot by 33.9% during the fourth quarter. Penserra Capital Management LLC now owns 8,067 shares of the industrial products company's stock valued at $496,000 after purchasing an additional 2,042 shares in the last quarter. 92.47% of the stock is owned by institutional investors and hedge funds.
iRobot stock opened at $54.05 on Tuesday. The firm has a 50-day moving average of $63.42 and a 200-day moving average of $73.92. The firm has a market cap of $1.46 billion, a P/E ratio of 51.48, a P/E/G ratio of 2.75 and a beta of 1.22. iRobot has a 1-year low of $53.10 and a 1-year high of $134.50.
iRobot Company Profile (Get Rating)
iRobot Corp. is a robot company, which engages in designing and building robots. Its products include robot vacuums, robot maps, and pool cleaners. The company was founded by Rodney Allen Brooks, Colin M. Angle and Helen Greiner in August 1990 and is headquartered in Bedford, MA.
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