iRobot (NASDAQ:IRBT – Get Free Report) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($1.81)-($1.74) for the period, compared to the consensus estimate of ($1.38). The company issued revenue guidance of $167-$172 million, compared to the consensus revenue estimate of $167.01 million. iRobot also updated its FY24 guidance to ($3.13)-($2.71) EPS.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on IRBT shares. Citigroup lowered their price target on shares of iRobot from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Monday, March 4th. StockNews.com upgraded iRobot from a sell rating to a hold rating in a report on Friday, January 12th.
Read Our Latest Stock Report on IRBT
iRobot Price Performance
iRobot (NASDAQ:IRBT – Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The industrial products company reported ($2.18) earnings per share for the quarter. The firm had revenue of $307.54 million during the quarter. iRobot had a negative net margin of 34.22% and a negative return on equity of 84.78%. As a group, sell-side analysts anticipate that iRobot will post -4.95 EPS for the current year.
Insiders Place Their Bets
In other iRobot news, Director Colin M. Angle sold 179,503 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $11.46, for a total transaction of $2,057,104.38. Following the transaction, the director now owns 14,797 shares of the company’s stock, valued at $169,573.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.04% of the company’s stock.
About iRobot
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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