Oppenheimer Equities Analysts Decrease Earnings Estimates for Itron, Inc. (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRIGet Rating) – Investment analysts at Oppenheimer dropped their Q3 2022 EPS estimates for shares of Itron in a report released on Monday, May 2nd. Oppenheimer analyst N. Kaye now forecasts that the scientific and technical instruments company will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.46. Oppenheimer also issued estimates for Itron’s Q4 2022 earnings at $0.61 EPS.

Itron (NASDAQ:ITRIGet Rating) last released its earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Itron had a negative net margin of 4.10% and a positive return on equity of 6.56%. The company had revenue of $475.30 million for the quarter, compared to analyst estimates of $488.49 million. During the same period in the prior year, the business earned $0.52 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis.

Several other research analysts also recently issued reports on ITRI. Zacks Investment Research downgraded shares of Itron from a “hold” rating to a “strong sell” rating and set a $43.00 price objective on the stock. in a research report on Thursday, March 3rd. TheStreet cut shares of Itron from a “c-” rating to a “d+” rating in a research note on Wednesday, March 9th. Wells Fargo & Company reduced their target price on shares of Itron from $60.00 to $43.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 1st. StockNews.com assumed coverage on shares of Itron in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Itron from $98.00 to $85.00 in a research note on Thursday, January 20th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $76.92.

Shares of ITRI opened at $48.26 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $49.98 and its 200-day simple moving average is $60.21. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -23.54 and a beta of 1.26. Itron has a twelve month low of $44.02 and a twelve month high of $102.32.

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in Itron by 104.5% in the third quarter. US Bancorp DE now owns 501 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 256 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Itron by 29.1% during the first quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company’s stock valued at $72,000 after acquiring an additional 310 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Itron by 17.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,409 shares of the scientific and technical instruments company’s stock valued at $97,000 after acquiring an additional 211 shares during the period. AGF Investments Inc. acquired a new stake in shares of Itron in the third quarter valued at $166,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Itron by 10.0% in the third quarter. Advisor Group Holdings Inc. now owns 2,618 shares of the scientific and technical instruments company’s stock valued at $199,000 after buying an additional 239 shares in the last quarter. 99.15% of the stock is owned by institutional investors and hedge funds.

In other Itron news, SVP Donald L. Reeves III sold 559 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $54.05, for a total value of $30,213.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michel Cadieux sold 1,745 shares of the company’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $49.50, for a total transaction of $86,377.50. The disclosure for this sale can be found here. Insiders have sold 13,033 shares of company stock valued at $696,751 in the last 90 days. Insiders own 1.37% of the company’s stock.

Itron Company Profile (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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