iRobot (NASDAQ:IRBT) Updates Q2 Earnings Guidance

iRobot (NASDAQ:IRBT) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of ($1.81)-($1.74) for the period, compared to the consensus earnings per share 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 Price Performance

IRBT traded down $0.11 during midday trading on Tuesday, hitting $9.02. The company had a trading volume of 1,600,194 shares, compared to its average volume of 2,711,812. iRobot has a twelve month low of $6.48 and a twelve month high of $51.49. The company has a market capitalization of $256.53 million, a PE ratio of -0.82 and a beta of 0.91. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.09 and a current ratio of 1.62. The firm’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $21.62.

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

Analyst Ratings Changes

IRBT has been the topic of a number of research reports. StockNews.com upgraded shares of iRobot from a sell rating to a hold rating in a research report on Friday, January 12th. Citigroup reduced their price objective 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 the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at this link. 2.04% of the stock is owned by 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.