Itron (NASDAQ:ITRI) Updates Q4 Earnings Guidance

by · The Markets Daily

Itron (NASDAQ:ITRI – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.00-1.10 for the period, compared to the consensus estimate of $1.01. The company issued revenue guidance of $600-610 million, compared to the consensus revenue estimate of $596.86 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Wall Street Analysts Forecast Growth

ITRI has been the subject of several recent analyst reports. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price for the company. TD Cowen boosted their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Oppenheimer increased their target price on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.50.

View Our Latest Research Report on Itron

Itron Stock Performance

ITRI traded up $0.05 during midday trading on Friday, hitting $111.81. 963,729 shares of the company were exchanged, compared to its average volume of 495,505. The company has a current ratio of 3.36, a quick ratio of 2.61 and a debt-to-equity ratio of 0.91. Itron has a 1-year low of $58.88 and a 1-year high of $116.39. The company’s 50 day simple moving average is $103.88 and its 200 day simple moving average is $102.65. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46.

Itron (NASDAQ:ITRI – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Itron will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,276 shares of company stock valued at $4,515,846. 1.45% of the stock is owned by company insiders.

About Itron

(Get Free Report)

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.

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