Itron, Inc. Forecasted to Earn Q2 2024 Earnings of $0.90 Per Share (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Equities researchers at Roth Capital lifted their Q2 2024 earnings per share (EPS) estimates for shares of Itron in a report issued on Friday, May 3rd. Roth Capital analyst C. Moore now expects that the scientific and technical instruments company will earn $0.90 per share for the quarter, up from their prior forecast of $0.76. The consensus estimate for Itron’s current full-year earnings is $3.68 per share. Roth Capital also issued estimates for Itron’s Q3 2024 earnings at $0.80 EPS and FY2025 earnings at $4.40 EPS.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group upgraded shares of Itron from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Oppenheimer raised their target price on shares of Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen upped their target price on Itron from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group increased their price target on Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Roth Mkm boosted their price objective on Itron from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $103.60.

Itron Trading Up 7.2 %

NASDAQ:ITRI opened at $107.01 on Monday. The company has a market cap of $4.91 billion, a PE ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. The business’s 50 day moving average is $91.94 and its two-hundred day moving average is $77.64. The company has a quick ratio of 1.43, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. Itron has a 52 week low of $56.11 and a 52 week high of $107.11.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. The company had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS.

Insider Activity at Itron

In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the sale, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 1,560 shares of Itron stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the transaction, the chief financial officer now directly owns 60,141 shares in the company, valued at approximately $4,532,827.17. The disclosure for this sale can be found here. Insiders sold 30,467 shares of company stock worth $2,752,520 in the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Institutional Trading of Itron

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Itron in the 3rd quarter worth $239,000. Raymond James Financial Services Advisors Inc. raised its holdings in Itron by 1.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock worth $1,184,000 after buying an additional 236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Itron by 453.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock worth $6,958,000 after buying an additional 94,085 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Itron by 313.4% in the third quarter. Mackenzie Financial Corp now owns 11,595 shares of the scientific and technical instruments company’s stock worth $677,000 after buying an additional 8,790 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Itron by 9.6% in the third quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock worth $344,000 after buying an additional 498 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Itron Company Profile

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.