Itron, Inc. (NASDAQ:ITRI) Expected to Post Quarterly Sales of $484.02 Million

Wall Street brokerages expect that Itron, Inc. (NASDAQ:ITRIGet Rating) will report $484.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Itron’s earnings. The highest sales estimate is $490.89 million and the lowest is $464.30 million. Itron posted sales of $519.57 million during the same quarter last year, which suggests a negative year over year growth rate of 6.8%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Itron will report full-year sales of $2.06 billion for the current fiscal year, with estimates ranging from $2.02 billion to $2.09 billion. For the next year, analysts anticipate that the company will report sales of $2.31 billion, with estimates ranging from $2.21 billion to $2.42 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Itron.

Itron (NASDAQ:ITRIGet Rating) last announced its quarterly earnings data on Monday, February 28th. The scientific and technical instruments company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.53. Itron had a positive return on equity of 6.56% and a negative net margin of 4.10%. The company had revenue of $485.60 million during the quarter, compared to the consensus estimate of $508.74 million. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was down 7.5% on a year-over-year basis.

A number of brokerages have commented on ITRI. Argus downgraded Itron from a “buy” rating to a “hold” rating in a research report on Monday, December 20th. StockNews.com started coverage on Itron in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley cut their target price on Itron from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 1st. TheStreet downgraded Itron from a “c-” rating to a “d+” rating in a research report on Wednesday, March 9th. Finally, Wells Fargo & Company cut their target price on Itron from $60.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.92.

Shares of ITRI stock opened at $50.19 on Tuesday. The stock has a 50 day moving average of $52.45 and a two-hundred day moving average of $63.02. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. Itron has a 12 month low of $44.02 and a 12 month high of $102.32. The company has a market capitalization of $2.26 billion, a P/E ratio of -28.36 and a beta of 1.28.

In other news, CEO Thomas Deitrich sold 4,639 shares of Itron stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $54.05, for a total value of $250,737.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 3,523 shares of Itron stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $54.05, for a total value of $190,418.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,033 shares of company stock valued at $696,751. Corporate insiders own 1.37% of the company’s stock.

Several institutional investors have recently made changes to their positions in ITRI. Ninety One UK Ltd grew its stake in Itron by 52.6% in the third quarter. Ninety One UK Ltd now owns 1,778,230 shares of the scientific and technical instruments company’s stock valued at $134,488,000 after acquiring an additional 612,937 shares during the period. Schroder Investment Management Group grew its stake in Itron by 159.3% in the fourth quarter. Schroder Investment Management Group now owns 980,317 shares of the scientific and technical instruments company’s stock valued at $67,171,000 after acquiring an additional 602,274 shares during the period. Norges Bank bought a new stake in shares of Itron in the fourth quarter valued at about $27,578,000. Allianz Asset Management GmbH lifted its holdings in shares of Itron by 44.5% in the third quarter. Allianz Asset Management GmbH now owns 1,214,735 shares of the scientific and technical instruments company’s stock valued at $91,871,000 after purchasing an additional 374,242 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Itron by 3.4% in the fourth quarter. BlackRock Inc. now owns 7,143,476 shares of the scientific and technical instruments company’s stock valued at $489,470,000 after purchasing an additional 234,947 shares in the last quarter. 98.00% of the stock is owned by institutional investors and hedge funds.

About Itron (Get Rating)

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Earnings History and Estimates for Itron (NASDAQ:ITRI)

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