Itron (NASDAQ:ITRI) Releases Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ITRI. JPMorgan Chase & Co. increased their price target on Itron from $77.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, March 13th. TheStreet raised shares of Itron from a c rating to a b- rating in a research report on Monday, February 26th. Robert W. Baird upped their price target on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a report on Wednesday, March 13th. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and raised their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Finally, TD Cowen upped their target price on shares of Itron from $110.00 to $115.00 and gave the company a buy rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $103.60.

Itron Price Performance

NASDAQ:ITRI traded up $7.19 during midday trading on Friday, hitting $107.01. 1,235,838 shares of the stock were exchanged, compared to its average volume of 473,020. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. 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 one year low of $56.11 and a one year high of $107.11. The business has a 50-day moving average price of $91.94 and a two-hundred day moving average price of $77.51.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same period in the previous year, the company earned $0.49 earnings per share. Itron’s revenue was up 22.0% compared to the same quarter last year. Sell-side analysts predict that Itron will post 3.68 EPS for the current year.

Insider Transactions at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the transaction, the senior vice president now owns 8,708 shares in the company, valued at approximately $656,321.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the transaction, the senior vice president now owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 over the last quarter. Company insiders own 1.45% of the company’s stock.

Itron Company Profile

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.