Itron (NASDAQ:ITRI) Issues FY 2024 Earnings Guidance

by · The Markets Daily

Itron (NASDAQ:ITRI – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.280-5.380 for the period, compared to the consensus EPS estimate of 4.570. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Itron also updated its Q4 guidance to $1.00-1.10 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Piper Sandler increased their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Robert W. Baird increased their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BNP Paribas initiated coverage on shares of Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.50.

View Our Latest Research Report on ITRI

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $0.05 during midday trading on Friday, hitting $111.81. The company had a trading volume of 963,729 shares, compared to its average volume of 495,505. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. The company has a fifty day moving average of $103.88 and a two-hundred day moving average of $102.65. Itron has a 12-month low of $58.88 and a 12-month high of $116.39.

Itron (NASDAQ:ITRI – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Itron will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas Deitrich sold 37,500 shares of the company’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 transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,276 shares of company stock worth $4,515,846. Company insiders own 1.45% of the company’s stock.

Itron Company Profile

(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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