Itron (NASDAQ:ITRI) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Itron (NASDAQ:ITRI) posted its quarterly earnings results on Sunday. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10, MarketWatch Earnings reports. Itron had a negative net margin of 2.85% and a positive return on equity of 9.74%. The business had revenue of $519.60 million for the quarter, compared to analysts’ expectations of $547.37 million. During the same period in the previous year, the company posted $0.57 EPS. Itron’s revenue was down 13.2% on a year-over-year basis.

ITRI traded down $3.03 during midday trading on Tuesday, hitting $85.42. 3,868 shares of the company traded hands, compared to its average volume of 569,260. The company has a quick ratio of 1.95, a current ratio of 2.30 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $3.85 billion, a PE ratio of -52.92 and a beta of 1.18. The company’s 50-day moving average is $90.43 and its 200 day moving average is $89.97. Itron has a 52 week low of $50.87 and a 52 week high of $122.31.

Several research firms have recently commented on ITRI. Piper Sandler started coverage on shares of Itron in a report on Thursday, April 1st. They set an “overweight” rating and a $120.00 price target on the stock. Canaccord Genuity lowered their target price on shares of Itron from $140.00 to $126.00 and set a “buy” rating on the stock in a research note on Tuesday. Argus raised shares of Itron from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Tuesday, March 9th. Zacks Investment Research lowered shares of Itron from a “hold” rating to a “strong sell” rating and set a $123.00 target price on the stock. in a research report on Friday, February 26th. Finally, Oppenheimer lowered their price objective on shares of Itron from $127.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Itron has an average rating of “Buy” and an average target price of $101.50.

In other Itron news, SVP Michel Cadieux sold 6,316 shares of the stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $95.25, for a total transaction of $601,599.00. Following the completion of the sale, the senior vice president now directly owns 29,542 shares of the company’s stock, valued at approximately $2,813,875.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.72% of the stock is currently owned by corporate insiders.

Itron Company Profile

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space 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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Earnings History for Itron (NASDAQ:ITRI)

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