What is Zacks Research’s Forecast for Itron FY2024 Earnings?

Itron, Inc. (NASDAQ:ITRI) – Investment analysts at Zacks Research raised their FY2024 earnings per share estimates for shares of Itron in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will post earnings of $5.31 per share for the year, up from their prior estimate of $4.47. The consensus estimate for Itron’s current full-year earnings is $5.33 per share. Zacks Research also issued estimates for Itron’s Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.09 EPS and FY2025 earnings at $4.43 EPS.

Several other research analysts have also recently issued reports on ITRI. Guggenheim boosted their price target on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Roth Mkm increased their target price on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price target on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer increased their price objective on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas started coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Price Performance

Shares of ITRI opened at $116.25 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of 23.82, a PEG ratio of 0.86 and a beta of 1.46. The stock has a fifty day moving average price of $108.87 and a 200 day moving average price of $104.86. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron has a 12 month low of $65.20 and a 12 month high of $124.90.

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

Institutional Investors Weigh In On Itron

Large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its stake in shares of Itron by 2.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,296 shares of the scientific and technical instruments company’s stock valued at $1,230,000 after acquiring an additional 290 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Itron by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after buying an additional 45,909 shares during the period. Edgestream Partners L.P. bought a new position in Itron in the 1st quarter valued at approximately $336,000. O Shaughnessy Asset Management LLC acquired a new stake in Itron during the 1st quarter worth approximately $230,000. Finally, UniSuper Management Pty Ltd bought a new stake in Itron during the 1st quarter worth approximately $904,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In other Itron news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. This represents a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,066 shares of company stock valued at $4,092,737. 1.45% of the stock is currently owned by corporate insiders.

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.