Q2 2024 EPS Estimates for Itron, Inc. (NASDAQ:ITRI) Boosted by Roth Capital

Itron, Inc. (NASDAQ:ITRI) – Stock analysts at Roth Capital increased their Q2 2024 earnings estimates for Itron in a research report issued to clients and investors on Friday, May 3rd. Roth Capital analyst C. Moore now anticipates that the scientific and technical instruments company will post earnings per share of $0.90 for the quarter, up from their previous estimate of $0.76. The consensus estimate for Itron’s current full-year earnings is $3.68 per share. Roth Capital also issued estimates for Itron’s Q3 2024 earnings at $0.80 EPS and FY2025 earnings at $4.40 EPS.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.39. The firm had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share.

ITRI has been the subject of a number of other research reports. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Stephens lifted their target price on shares of Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday. Roth Mkm lifted their target price on shares of Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their target price on shares of Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, TheStreet raised shares of Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.18.

Itron Price Performance

ITRI stock opened at $108.25 on Monday. The company has a fifty day moving average price of $92.61 and a 200-day moving average price of $78.34. The company has a market capitalization of $4.97 billion, a P/E ratio of 31.11, a PEG ratio of 1.16 and a beta of 1.38. Itron has a 52-week low of $56.11 and a 52-week high of $109.72. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Itron in the fourth quarter valued at about $24,504,000. Assenagon Asset Management S.A. boosted its stake in Itron by 517.4% in the third quarter. Assenagon Asset Management S.A. now owns 246,688 shares of the scientific and technical instruments company’s stock valued at $14,944,000 after acquiring an additional 206,729 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in Itron in the fourth quarter valued at about $11,654,000. Vanguard Group Inc. boosted its stake in Itron by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after acquiring an additional 142,564 shares during the last quarter. Finally, Braun Stacey Associates Inc. boosted its stake in Itron by 140.6% in the fourth quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after acquiring an additional 126,328 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares in the company, valued at $12,743,032.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Joan S. Hooper sold 1,560 shares of the business’s stock in a transaction dated 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 directly owns 60,141 shares in the company, valued at $4,532,827.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the transaction, the chief executive officer now owns 169,073 shares in the company, valued at $12,743,032.01. The disclosure for this sale can be found here. Insiders sold 30,467 shares of company stock worth $2,752,520 over the last three months. 1.45% of the stock is currently owned by insiders.

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.