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It seems like a fabulous season for the giant tech company, as iRobot Co. (IRBT) publishes impressive earning results. The official update on its FY16 earning guidance was issued on Wednesday morning and it showed a business revenue increase of 29.6% on a year-by-year basis.
The company issued an earnings per share (EPS) guidance of $1.20- 1.40 for the period in question, different from what Thompson Reuters estimated, which is $1.64. Furthermore, their revenue guidance was of $630-642 million, compared to the $688.37 estimated consensus revenue.
iRobot Co.’s shares opened on Friday at 28.39, with a 50 day moving average of $33.01 and a 200 day moving average of $31.56. Its market cap is at $825.27 million, with a price-to-earnings ratio of 25.12.
Recent reports place their 12 month low at $27.55 and their 12 month high at $37.71. Their quarterly EPS was reported at $0.65, more than what the analysts had predicted, which was between $0.57-0.08.
The guidance also mentions that the company saw earnings of $206.40 million during the quarter. Considering all this, equities analysts suggest that their EPS for the current year will be at $1.38.
Zacks Investment Research issued a report in January which downgraded iRobot shares from a buy rating to a hold rating. The company currently has a “Hold” rating and a price target of $38.11.
iRobot Corporation is an American technology company founded in 1990 and focused on designing and building robots. Their clientele comes from a wide range of fields, such as telemedicine, defense and security, mobile video market. They also develop products for the general consumers, which can be used in their personal homes.
One of the most famous home-use products is the Roomba, which was introduced back in 2002 and it acts as an autonomous vacuum cleaner. As of 2014, the company has sold over 10 million units worldwide. Its popularity can be attributed to its high performance and to the comfort of having your house cleaned with the simple push of a button.
iRobot Co. became a publicly traded company on November 2005, with an IPO set at $24.00 per share. Back in December, the company’s CEO Colin M. Angle decided to sell 59.074 of his shares at an average price of $34.70, for a total figure of $2,049,867.80.
After this, Angle now owns 483,179 shares of the company, with a total worth of $16,766,311.30.
Image Source: IBTimes
