Itron (NASDAQ:ITRI) Updates Q2 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.90-1.00 for the period, compared to the consensus earnings per share estimate of $0.85. The company issued revenue guidance of $595-605 million, compared to the consensus revenue estimate of $583.61 million.

Itron Trading Up 7.2 %

Shares of NASDAQ:ITRI traded up $7.19 during trading on Friday, reaching $107.01. The company’s stock had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. Itron has a 12 month low of $56.11 and a 12 month high of $107.11. The firm’s 50 day simple moving average is $91.94 and its two-hundred day simple moving average is $77.51. The stock has a market capitalization of $4.91 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.19 and a beta of 1.38.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same quarter last year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts predict that Itron will post 3.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen raised their price objective on shares of Itron from $110.00 to $115.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird lifted their price target on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and lifted their price target for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Roth Mkm lifted their price target on shares of Itron from $102.00 to $112.00 and gave the company a buy rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Itron presently has a consensus rating of Moderate Buy and an average price target of $103.60.

Insider Transactions at Itron

In other news, Director Jerome J. Lande sold 14,896 shares of Itron stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at $656,321.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company’s stock.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.