Itron (NASDAQ:ITRI) Releases Q2 Earnings Guidance

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

Itron Stock Performance

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

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, beating the consensus estimate of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Research analysts predict that Itron will post 3.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ITRI. TheStreet upgraded Itron from a c rating to a b- rating in a research report on Monday, February 26th. Oppenheimer raised their target price on Itron from $100.00 to $110.00 and gave the company an outperform rating in a research report on Friday. JPMorgan Chase & Co. raised 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. Roth Mkm raised 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, TD Cowen raised their price target on shares of Itron from $110.00 to $115.00 and gave the company a buy rating in a research note on Friday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $103.60.

Insider Activity at Itron

In other Itron news, 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 value of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Itron news, 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 value of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the sale, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. 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.