Analysts on Wall Street project that Ingersoll Rand (IR) will announce quarterly earnings of $0.83 per share in its forthcoming report, representing an increase of 3.8% year over year. Revenues are projected to reach $1.96 billion, increasing 3.8% from the same quarter last year.
The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
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 expect 'Revenue- Precision and Science Technologies' to come in at $412.36 million. The estimate indicates a year-over-year change of +4.1%.
According to the collective judgment of analysts, 'Revenue- Industrial Technologies and Services' should come in at $1.54 billion. The estimate points to a change of +3.4% from the year-ago quarter.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Precision & Science Technologies' should arrive at $128.25 million. Compared to the present estimate, the company reported $116.80 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- Industrial Technologies & Services' of $428.52 million. The estimate is in contrast to the year-ago figure of $427.20 million.
View all Key Company Metrics for Ingersoll here>>>Shares of Ingersoll have demonstrated returns of +4.5% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #3 (Hold), IR is expected to mirror the overall market performance 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 Report
This article originally published on Zacks Investment Research (zacks.com).