iRobot (NASDAQ:IRBT) Issues Q2 Earnings Guidance

iRobot (NASDAQ:IRBT) updated its second quarter earnings guidance on Tuesday. 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.

iRobot Stock Down 1.2 %

Shares of NASDAQ IRBT traded down $0.11 during mid-day trading on Tuesday, hitting $9.02. 1,600,194 shares of the stock traded hands, compared to its average volume of 2,711,812. The company has a market cap of $256.53 million, a price-to-earnings ratio of -0.82 and a beta of 0.91. The stock has a fifty day moving average price of $8.91 and a 200-day moving average price of $21.62. iRobot has a 52 week low of $6.48 and a 52 week high of $51.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.09 and a current ratio of 1.62.

iRobot (NASDAQ:IRBT) last released its earnings results on Monday, February 26th. The industrial products company reported ($2.18) earnings per share for the quarter. The business had revenue of $307.54 million during the quarter. iRobot had a negative return on equity of 84.78% and a negative net margin of 34.22%. Research analysts anticipate that iRobot will post -4.95 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com upgraded iRobot from a sell rating to a hold rating in a research note on Friday, January 12th. Citigroup dropped their price target on shares of iRobot from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Monday, March 4th.

Insider Buying and Selling

In other iRobot news, Director Colin M. Angle sold 179,503 shares of iRobot stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.46, for a total value of $2,057,104.38. Following the completion of the sale, the director now owns 14,797 shares of the company’s stock, valued at approximately $169,573.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.04% of the stock is owned by company insiders.

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.