Itron (NASDAQ:ITRI – Get Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 4th. Analysts expect the company to announce earnings of $0.11 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Itron (NASDAQ:ITRI – Get Rating) last released its quarterly earnings results on Monday, February 27th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.62. Itron had a negative net margin of 0.54% and a positive return on equity of 4.41%. The business had revenue of $467.50 million for the quarter, compared to analyst estimates of $433.90 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, analysts expect Itron to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Itron Stock Down 0.1 %
ITRI stock opened at $51.15 on Thursday. Itron has a 52-week low of $39.38 and a 52-week high of $60.61. The company’s 50 day simple moving average is $53.65 and its 200-day simple moving average is $52.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.21. The firm has a market capitalization of $2.32 billion, a P/E ratio of -232.50 and a beta of 1.34.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Itron from $40.00 to $52.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. Piper Sandler boosted their price target on shares of Itron from $48.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, February 28th. Raymond James boosted their price target on shares of Itron from $57.00 to $60.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 28th. JPMorgan Chase & Co. lowered shares of Itron from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $53.00 to $50.00 in a research note on Friday, March 3rd. Finally, Cowen upped their price objective on shares of Itron from $55.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Itron currently has a consensus rating of “Hold” and a consensus price target of $57.22.
Insider Transactions at Itron
In other news, SVP Donald L. Reeves III sold 1,000 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 8,158 shares in the company, valued at approximately $489,480. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Donald L. Reeves III sold 1,000 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $60.00, for a total transaction of $60,000.00. Following the transaction, the senior vice president now owns 8,158 shares in the company, valued at approximately $489,480. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 1,089 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $55.64, for a total transaction of $60,591.96. Following the transaction, the chief financial officer now owns 49,320 shares in the company, valued at approximately $2,744,164.80. The disclosure for this sale can be found here. Insiders have sold a total of 10,365 shares of company stock worth $572,453 in the last 90 days. 1.47% of the stock is owned by insiders.
Institutional Trading of Itron
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Itron by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,080,619 shares of the scientific and technical instruments company’s stock worth $213,945,000 after buying an additional 106,342 shares during the period. Amundi boosted its holdings in shares of Itron by 18.3% during the 4th quarter. Amundi now owns 2,600,319 shares of the scientific and technical instruments company’s stock worth $133,785,000 after buying an additional 401,394 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Itron by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,043,908 shares of the scientific and technical instruments company’s stock worth $54,994,000 after buying an additional 123,400 shares during the period. First Trust Advisors LP boosted its holdings in shares of Itron by 12.5% during the 1st quarter. First Trust Advisors LP now owns 991,633 shares of the scientific and technical instruments company’s stock worth $52,239,000 after buying an additional 110,107 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Itron by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 861,420 shares of the scientific and technical instruments company’s stock worth $43,630,000 after buying an additional 28,981 shares during the period. 96.64% of the stock is owned by institutional investors.
About Itron
Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.
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