Iteris Inc (NASDAQ:ITI) Forecasted to Post Q3 2020 Earnings of ($0.02) Per Share

Iteris Inc (NASDAQ:ITI) – Analysts at B. Riley reduced their Q3 2020 EPS estimates for Iteris in a research note issued to investors on Wednesday, November 6th. B. Riley analyst J. Van. Sinderen now anticipates that the technology company will post earnings of ($0.02) per share for the quarter, down from their prior forecast of ($0.01). B. Riley also issued estimates for Iteris’ Q4 2020 earnings at ($0.01) EPS, FY2020 earnings at ($0.11) EPS and FY2022 earnings at $0.36 EPS.

A number of other equities analysts have also commented on ITI. Zacks Investment Research lowered shares of Iteris from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine raised shares of Iteris from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Dougherty & Co began coverage on shares of Iteris in a research report on Tuesday, August 27th. They set a “buy” rating and a $6.50 target price on the stock. Northland Securities set a $9.00 target price on shares of Iteris and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, BidaskClub raised shares of Iteris from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Iteris presently has an average rating of “Buy” and a consensus target price of $7.17.

Shares of NASDAQ:ITI opened at $4.77 on Friday. The firm has a market cap of $225.12 million, a PE ratio of -43.36 and a beta of 0.28. The firm’s 50 day simple moving average is $5.34 and its 200-day simple moving average is $5.23. Iteris has a one year low of $3.24 and a one year high of $6.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.46 and a current ratio of 2.55.

Iteris (NASDAQ:ITI) last issued its earnings results on Tuesday, November 5th. The technology company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The company had revenue of $27.88 million for the quarter, compared to analysts’ expectations of $27.95 million. Iteris had a negative return on equity of 15.19% and a negative net margin of 8.34%.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in Iteris during the second quarter valued at approximately $62,000. Cadence Capital Management LLC purchased a new position in Iteris during the third quarter valued at approximately $68,000. Jane Street Group LLC purchased a new position in Iteris during the second quarter valued at approximately $75,000. Pentwater Capital Management LP purchased a new position in Iteris during the second quarter valued at approximately $80,000. Finally, Alambic Investment Management L.P. purchased a new position in Iteris during the second quarter valued at approximately $97,000. 45.10% of the stock is currently owned by institutional investors.

Iteris Company Profile

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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Earnings History and Estimates for Iteris (NASDAQ:ITI)

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