Zacks: Brokerages Anticipate Itron, Inc. (NASDAQ:ITRI) to Announce $0.22 EPS

Wall Street analysts expect Itron, Inc. (NASDAQ:ITRIGet Rating) to announce $0.22 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Itron’s earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.10. Itron reported earnings per share of $0.28 during the same quarter last year, which would indicate a negative year over year growth rate of 21.4%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Itron will report full year earnings of $1.28 per share for the current fiscal year, with EPS estimates ranging from $0.49 to $1.65. For the next financial year, analysts expect that the company will post earnings of $2.91 per share, with EPS estimates ranging from $2.68 to $3.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Itron.

Itron (NASDAQ:ITRIGet Rating) last released its quarterly earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $475.30 million for the quarter, compared to the consensus estimate of $488.49 million. Itron had a negative net margin of 4.80% and a positive return on equity of 5.19%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS.

A number of equities research analysts have recently issued reports on ITRI shares. StockNews.com downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of Itron from a “c-” rating to a “d+” rating in a research note on Wednesday, March 9th. Wells Fargo & Company cut their target price on shares of Itron from $60.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 1st. Zacks Investment Research downgraded shares of Itron from a “hold” rating to a “strong sell” rating and set a $43.00 target price on the stock. in a research note on Thursday, March 3rd. Finally, Piper Sandler began coverage on shares of Itron in a research note on Thursday, May 12th. They set a “neutral” rating and a $51.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.36.

Shares of Itron stock traded up $0.05 on Friday, reaching $50.80. The company had a trading volume of 329,827 shares, compared to its average volume of 340,853. The firm’s 50 day moving average price is $50.10 and its two-hundred day moving average price is $57.77. The firm has a market cap of $2.29 billion, a PE ratio of -24.78 and a beta of 1.26. Itron has a 52-week low of $44.02 and a 52-week high of $102.32. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.24 and a current ratio of 1.58.

In other news, SVP Donald L. Reeves III sold 559 shares of the company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 627 shares of the company’s stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total transaction of $30,948.72. Following the completion of the transaction, the chief financial officer now owns 50,409 shares of the company’s stock, valued at approximately $2,488,188.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,849 shares of company stock worth $736,533. Insiders own 1.37% of the company’s stock.

Several institutional investors have recently modified their holdings of ITRI. Schroder Investment Management Group boosted its holdings in shares of Itron by 159.3% in the 4th 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 buying an additional 602,274 shares in the last quarter. Federated Hermes Inc. boosted its stake in Itron by 233.6% during the 1st quarter. Federated Hermes Inc. now owns 622,483 shares of the scientific and technical instruments company’s stock worth $32,793,000 after purchasing an additional 435,870 shares during the period. Norges Bank acquired a new stake in Itron during the 4th quarter worth $27,578,000. Clearbridge Investments LLC acquired a new stake in Itron during the 1st quarter worth $13,588,000. Finally, BlackRock Inc. boosted its stake in Itron by 3.4% during the 4th quarter. BlackRock Inc. now owns 7,143,476 shares of the scientific and technical instruments company’s stock worth $489,470,000 after purchasing an additional 234,947 shares during the period. Institutional investors and hedge funds own 99.15% 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.

Read More

Get a free copy of the Zacks research report on Itron (ITRI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Itron (NASDAQ:ITRI)

Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.