Brokerages Anticipate Itron, Inc. (NASDAQ:ITRI) Will Announce Quarterly Sales of $494.37 Million

Equities analysts expect Itron, Inc. (NASDAQ:ITRI – Get Rating) to announce $494.37 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Itron’s earnings. The lowest sales estimate is $481.29 million and the highest is $509.85 million. Itron reported sales of $489.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Itron will report full year sales of $2.02 billion for the current fiscal year, with estimates ranging from $1.94 billion to $2.07 billion. For the next year, analysts forecast that the company will report sales of $2.26 billion, with estimates ranging from $2.17 billion to $2.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Itron.

Itron (NASDAQ:ITRI – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Itron had a negative net margin of 4.80% and a positive return on equity of 5.19%. The firm had revenue of $475.30 million during the quarter, compared to analysts’ expectations of $488.49 million. During the same period in the prior year, the company earned $0.52 EPS. The firm’s revenue was down 8.5% on a year-over-year basis.

A number of equities analysts have commented on ITRI shares. Zacks Investment Research lowered shares of Itron from a “hold” rating to a “strong sell” rating and set a $43.00 price objective on the stock. in a report on Thursday, March 3rd. TheStreet lowered shares of Itron from a “c-” rating to a “d+” rating in a report on Wednesday, March 9th. Wells Fargo & Company cut their price objective on shares of Itron from $60.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 1st. Morgan Stanley cut their target price on shares of Itron from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 1st. Finally, Stephens cut their target price on shares of Itron from $90.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.36.

In other Itron news, SVP Michel Cadieux sold 1,745 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $49.50, for a total value of $86,377.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 627 shares of the stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $49.36, for a total transaction of $30,948.72. Following the transaction, the chief financial officer now owns 50,409 shares in the company, valued at approximately $2,488,188.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,849 shares of company stock valued at $736,533. Company insiders own 1.37% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Itron by 104.5% during the 3rd quarter. US Bancorp DE now owns 501 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 256 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Itron in the 1st quarter valued at $36,000. Exchange Traded Concepts LLC grew its stake in Itron by 29.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company’s stock valued at $72,000 after buying an additional 310 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in Itron by 17.6% in the 4th 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 buying an additional 211 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Itron by 314.3% in the 1st quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company’s stock valued at $90,000 after buying an additional 1,295 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Shares of ITRI stock opened at $50.80 on Monday. Itron has a 12 month low of $44.02 and a 12 month high of $102.32. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.58 and a quick ratio of 1.24. The firm has a market capitalization of $2.29 billion, a P/E ratio of -24.78 and a beta of 1.26. The company’s fifty day moving average price is $50.10 and its two-hundred day moving average price is $57.48.

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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