Analysts forecast that Itron, Inc. (NASDAQ:ITRI) will announce $619.05 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Itron’s earnings, with the lowest sales estimate coming in at $611.10 million and the highest estimate coming in at $627.00 million. Itron reported sales of $595.96 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results on Monday, November 4th.
According to Zacks, analysts expect that Itron will report full year sales of $2.47 billion for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.51 billion, with estimates ranging from $2.48 billion to $2.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Itron.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.39. The business had revenue of $635.04 million for the quarter, compared to the consensus estimate of $598.59 million. Itron had a return on equity of 19.51% and a net margin of 2.52%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share.
In related news, Director Thomas S. Glanville sold 3,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $66.38, for a total value of $199,140.00. Following the transaction, the director now directly owns 13,007 shares of the company’s stock, valued at approximately $863,404.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Philip Mezey sold 31,414 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $62.98, for a total value of $1,978,453.72. Following the completion of the transaction, the insider now directly owns 74,624 shares in the company, valued at $4,699,819.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,252 shares of company stock worth $8,138,812. 2.35% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Itron in the second quarter valued at $37,000. NumerixS Investment Technologies Inc boosted its holdings in Itron by 50.0% in the second quarter. NumerixS Investment Technologies Inc now owns 600 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Itron by 145.4% in the second quarter. Versant Capital Management Inc now owns 697 shares of the scientific and technical instruments company’s stock valued at $43,000 after purchasing an additional 413 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Itron by 47.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,381 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 446 shares during the last quarter. Finally, Smithfield Trust Co. boosted its holdings in Itron by 2,120.0% in the first quarter. Smithfield Trust Co. now owns 1,443 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 1,378 shares during the last quarter. 97.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ITRI stock traded up $1.46 during trading hours on Tuesday, reaching $69.00. 3,036 shares of the company’s stock were exchanged, compared to its average volume of 295,634. The stock’s 50 day moving average is $62.73 and its 200-day moving average is $56.70. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 0.94 and a beta of 1.20. The company has a current ratio of 1.44, a quick ratio of 1.09 and a debt-to-equity ratio of 1.39. Itron has a fifty-two week low of $44.35 and a fifty-two week high of $69.09.
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use 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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