Itron (NASDAQ:ITRI) Releases Q4 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.00-1.10 for the period, compared to the consensus EPS estimate of $1.01. The company issued revenue guidance of $600-610 million, compared to the consensus revenue estimate of $596.86 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price target on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler increased their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen increased their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BNP Paribas started coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Itron Stock Performance

Itron stock traded up $0.05 during trading on Friday, reaching $111.81. The company had a trading volume of 963,729 shares, compared to its average volume of 495,505. Itron has a 52 week low of $58.88 and a 52 week high of $116.39. The firm’s 50-day simple moving average is $103.88 and its 200 day simple moving average is $102.65. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The company has a current ratio of 3.36, a quick ratio of 2.61 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Itron will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,276 shares of company stock worth $4,515,846. Corporate insiders own 1.45% of the company’s stock.

About Itron

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.