Itron (NASDAQ:ITRI) Announces Earnings Results, Misses Expectations By $0.14 EPS

Itron (NASDAQ:ITRIGet Rating) posted its earnings results on Thursday. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14), Briefing.com reports. Itron had a positive return on equity of 5.19% and a negative net margin of 4.80%. The business had revenue of $431.88 million for the quarter, compared to the consensus estimate of $488.53 million. During the same period in the previous year, the company posted $0.28 earnings per share. Itron’s revenue for the quarter was down 11.8% compared to the same quarter last year.

Itron Stock Up 1.9 %

Shares of NASDAQ ITRI traded up $0.98 during trading hours on Friday, hitting $51.64. The company had a trading volume of 587,594 shares, compared to its average volume of 395,266. The stock has a market capitalization of $2.33 billion, a P/E ratio of -25.19 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.58 and a debt-to-equity ratio of 0.38. Itron has a 1-year low of $43.18 and a 1-year high of $86.49. The firm’s 50 day moving average is $50.32 and its 200-day moving average is $51.49.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ITRI. Piper Sandler lowered their target price on Itron from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Stephens cut Itron from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $65.00 to $55.00 in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Itron from $71.00 to $73.00 in a research note on Wednesday, July 20th. Raymond James decreased their price target on shares of Itron from $72.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 12th. Finally, Morgan Stanley decreased their price target on shares of Itron from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, June 9th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.40.

Insider Activity

In other news, CFO Joan S. Hooper sold 627 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $49.36, for a total value of $30,948.72. Following the completion of the sale, the chief financial officer now owns 50,409 shares of the company’s stock, valued at approximately $2,488,188.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 1,015 shares of company stock valued at $48,923. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Itron

Several hedge funds have recently added to or reduced their stakes in ITRI. US Bancorp DE lifted its holdings in Itron by 30.7% during the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Itron by 314.3% during the 1st quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company’s stock valued at $90,000 after purchasing an additional 1,295 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Itron during the 1st quarter valued at $299,000. Quantbot Technologies LP lifted its holdings in Itron by 666.3% during the 1st quarter. Quantbot Technologies LP now owns 5,893 shares of the scientific and technical instruments company’s stock valued at $310,000 after purchasing an additional 5,124 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in Itron by 10.4% during the 1st quarter. Natixis Advisors L.P. now owns 13,291 shares of the scientific and technical instruments company’s stock valued at $700,000 after purchasing an additional 1,256 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

Itron Company Profile

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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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