Itron (ITRI) Scheduled to Post Earnings on Thursday

Itron (NASDAQ:ITRI) will post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Itron to post earnings of $0.85 per share for the quarter. Itron has set its Q1 guidance at $0.80-0.90 EPS and its FY24 guidance at 3.40-3.80 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.48. Itron had a net margin of 4.46% and a return on equity of 12.27%. The firm had revenue of $577.17 million for the quarter, compared to analyst estimates of $569.90 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, analysts expect Itron to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Itron Price Performance

Shares of NASDAQ ITRI opened at $94.42 on Thursday. Itron has a fifty-two week low of $50.60 and a fifty-two week high of $96.73. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 1.01 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95. The firm’s 50-day simple moving average is $88.66 and its 200 day simple moving average is $75.52.

Insider Buying and Selling

In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, the director now owns 5,750 shares in the company, valued at $547,687.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the transaction, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 over the last quarter. Corporate insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ITRI shares. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. TD Cowen raised their price target on shares of Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Oppenheimer upgraded shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.60.

Itron Company Profile

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.