Brokerages Expect iRobot Co. (IRBT) Will Post Quarterly Sales of $378.98 Million

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Wall Street brokerages forecast that iRobot Co. (NASDAQ:IRBT) will post sales of $378.98 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for iRobot’s earnings. The lowest sales estimate is $377.10 million and the highest is $380.84 million. iRobot reported sales of $326.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.9%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 6th.

On average, analysts expect that iRobot will report full year sales of $1.09 billion for the current financial year. For the next financial year, analysts expect that the company will post sales of $1.27 billion, with estimates ranging from $1.21 billion to $1.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow iRobot.

iRobot (NASDAQ:IRBT) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.64. iRobot had a return on equity of 15.95% and a net margin of 6.52%. The business had revenue of $264.50 million for the quarter, compared to analysts’ expectations of $245.12 million. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue was up 28.8% on a year-over-year basis.

Several brokerages recently commented on IRBT. BidaskClub upgraded iRobot from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut iRobot from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 25th. Piper Jaffray Companies cut iRobot from an “overweight” rating to a “neutral” rating in a report on Monday, October 8th. Canaccord Genuity began coverage on iRobot in a report on Monday, November 5th. They issued a “buy” rating and a $115.00 target price on the stock. Finally, Sidoti upgraded iRobot from a “neutral” rating to a “buy” rating in a report on Tuesday, October 16th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. iRobot currently has an average rating of “Buy” and a consensus price target of $89.40.

In related news, CEO Colin M. Angle sold 63,070 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $90.10, for a total value of $5,682,607.00. Following the transaction, the chief executive officer now directly owns 516,781 shares in the company, valued at approximately $46,561,968.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Colin M. Angle sold 11,765 shares of the stock in a transaction on Monday, January 7th. The stock was sold at an average price of $85.00, for a total value of $1,000,025.00. Following the completion of the transaction, the chief executive officer now owns 406,283 shares in the company, valued at $34,534,055. The disclosure for this sale can be found here. Insiders have sold a total of 123,574 shares of company stock worth $10,780,359 over the last 90 days. Company insiders own 3.51% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of IRBT. FMR LLC lifted its holdings in shares of iRobot by 509.3% in the 2nd quarter. FMR LLC now owns 2,105,907 shares of the industrial products company’s stock worth $159,565,000 after purchasing an additional 1,760,300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of iRobot by 3,777.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 710,377 shares of the industrial products company’s stock worth $78,082,000 after purchasing an additional 692,057 shares in the last quarter. Morgan Stanley lifted its holdings in shares of iRobot by 120.7% in the 3rd quarter. Morgan Stanley now owns 824,043 shares of the industrial products company’s stock worth $90,579,000 after purchasing an additional 450,642 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of iRobot by 7.8% in the 3rd quarter. Primecap Management Co. CA now owns 4,161,600 shares of the industrial products company’s stock worth $457,443,000 after purchasing an additional 300,600 shares in the last quarter. Finally, Columbus Circle Investors bought a new position in shares of iRobot in the 3rd quarter worth $22,893,000. Institutional investors own 97.20% of the company’s stock.

IRBT stock traded up $0.55 during trading on Friday, hitting $85.48. The company had a trading volume of 26,024 shares, compared to its average volume of 520,777. iRobot has a one year low of $55.77 and a one year high of $118.75. The stock has a market capitalization of $2.31 billion, a PE ratio of 48.07, a PEG ratio of 1.41 and a beta of 1.73.

iRobot Company Profile

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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