Brokerages expect that Itron, Inc. (NASDAQ:ITRI) will post earnings of $0.49 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Itron’s earnings, with estimates ranging from $0.40 to $0.60. Itron reported earnings per share of $0.51 during the same quarter last year, which suggests a negative year over year growth rate of 3.9%. The company is scheduled to announce its next quarterly earnings report on Monday, August 5th.
According to Zacks, analysts expect that Itron will report full year earnings of $2.66 per share for the current financial year, with EPS estimates ranging from $2.59 to $2.75. For the next year, analysts anticipate that the business will post earnings of $3.53 per share, with EPS estimates ranging from $3.20 to $3.85. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Itron.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, May 6th. The scientific and technical instruments company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.27. Itron had a return on equity of 17.97% and a net margin of 1.87%. The company had revenue of $614.58 million during the quarter, compared to analysts’ expectations of $591.88 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis.
Several research analysts have recently issued reports on ITRI shares. ValuEngine upgraded shares of Itron from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. BidaskClub raised shares of Itron from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Itron from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 1st. Needham & Company LLC cut their price target on shares of Itron to $75.00 and set a “buy” rating for the company in a report on Wednesday, January 23rd. Finally, JMP Securities cut their price target on shares of Itron from $80.00 to $72.00 and set a “market outperform” rating for the company in a report on Thursday, February 28th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Itron presently has a consensus rating of “Buy” and a consensus target price of $70.22.
In other news, CEO Philip Mezey sold 3,657 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $60.65, for a total transaction of $221,797.05. Following the sale, the chief executive officer now owns 109,722 shares in the company, valued at approximately $6,654,639.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Scopia Capital Management Lp sold 11,784 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $46.22, for a total transaction of $544,656.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 673,678 shares of company stock valued at $34,787,733. Insiders own 2.35% of the company’s stock.
Several institutional investors have recently bought and sold shares of ITRI. FMR LLC increased its position in shares of Itron by 3.1% in the first quarter. FMR LLC now owns 253,752 shares of the scientific and technical instruments company’s stock valued at $11,837,000 after acquiring an additional 7,614 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of Itron in the first quarter valued at about $252,000. Morgan Stanley increased its position in shares of Itron by 8.5% in the first quarter. Morgan Stanley now owns 93,861 shares of the scientific and technical instruments company’s stock valued at $4,380,000 after acquiring an additional 7,322 shares during the period. M&T Bank Corp purchased a new position in shares of Itron in the first quarter valued at about $202,000. Finally, Putnam FL Investment Management Co. purchased a new position in shares of Itron in the first quarter valued at about $356,000. Hedge funds and other institutional investors own 97.81% of the company’s stock.
Shares of ITRI stock traded down $1.78 during trading on Friday, hitting $56.98. The company had a trading volume of 12,305 shares, compared to its average volume of 468,473. The company has a current ratio of 1.40, a quick ratio of 1.07 and a debt-to-equity ratio of 1.43. The stock has a market cap of $2.24 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 0.86 and a beta of 1.37. Itron has a one year low of $44.35 and a one year high of $66.95.
Itron Company Profile
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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