iRobot (NASDAQ:IRBT) Posts Earnings Results, Beats Estimates By $0.42 EPS

Key Points

• iRobot beat estimates: the company reported EPS of ($0.23) vs. consensus ($0.65) — a $0.42 beat — and revenue of $145.83M vs. $136.0M expected, but still showed a negative net margin (-32.55%) and a negative return on equity (296.63%).
• Stock and valuation hit: shares fell about 5.2% to $2.20 on heavy volume, leaving a market cap near $69M, a one-year range of $1.76–$13.06, and a negative P/E of -0.35.
• Analyst sentiment weak: recent downgrades from Wall Street Zen and Weiss leave the average rating at "Reduce" (one Hold, one Sell reported).

iRobot (NASDAQ:IRBT - Get Free Report) released its quarterly earnings results on Thursday. The industrial products company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.42, FiscalAI reports. The company had revenue of $145.83 million for the quarter, compared to analyst estimates of $136.00 million. iRobot had a negative return on equity of 296.63% and a negative net margin of 32.55%.

iRobot Stock Down 5.2%

NASDAQ:IRBT traded down $0.12 during midday trading on Friday, hitting $2.20. The stock had a trading volume of 4,403,068 shares, compared to its average volume of 2,552,326. iRobot has a one year low of $1.76 and a one year high of $13.06. The stock has a 50-day moving average of $3.75 and a 200 day moving average of $3.54. The company has a market capitalization of $69.01 million, a price-to-earnings ratio of -0.35 and a beta of 0.98.

Analysts Set New Price Targets

IRBT has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of iRobot from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Needham & Company LLC restated a "hold" rating on shares of iRobot in a report on Thursday, August 14th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of iRobot in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce".

Hedge Funds Weigh In On iRobot

Large investors have recently bought and sold shares of the business. Invesco Ltd. grew its holdings in iRobot by 1.8% in the second quarter. Invesco Ltd. now owns 234,753 shares of the industrial products company's stock worth $735,000 after purchasing an additional 4,251 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of iRobot by 1.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 358,262 shares of the industrial products company's stock worth $967,000 after buying an additional 5,857 shares during the period. Jump Financial LLC acquired a new position in shares of iRobot in the 2nd quarter valued at $36,000. Headlands Technologies LLC purchased a new position in iRobot in the 2nd quarter worth $38,000. Finally, Strs Ohio purchased a new stake in iRobot during the 1st quarter valued at about $59,000. Institutional investors own 77.42% of the company's stock.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.

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