Seaport Res Ptn Analysts Boost Earnings Estimates for Itron, Inc. (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Equities research analysts at Seaport Res Ptn upped their FY2024 earnings estimates for shares of Itron in a report issued on Friday, August 2nd. Seaport Res Ptn analyst S. Graham now forecasts that the scientific and technical instruments company will post earnings of $4.64 per share for the year, up from their previous estimate of $4.31. The consensus estimate for Itron’s current full-year earnings is $4.55 per share. Seaport Res Ptn also issued estimates for Itron’s Q4 2024 earnings at $1.00 EPS, Q1 2025 earnings at $1.28 EPS, Q2 2025 earnings at $1.27 EPS, Q4 2025 earnings at $1.24 EPS and FY2025 earnings at $5.12 EPS.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS.

ITRI has been the subject of a number of other reports. TD Cowen boosted their target price on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Piper Sandler upped their price target on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research note on Monday. Finally, StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average target price of $114.00.

Itron Trading Up 0.4 %

Itron stock opened at $97.77 on Monday. The company has a quick ratio of 1.40, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $102.90 and a two-hundred day moving average price of $94.72. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 0.91 and a beta of 1.45. Itron has a 52-week low of $56.11 and a 52-week high of $113.07.

Institutional Investors Weigh In On Itron

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Itron by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after purchasing an additional 45,909 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock worth $126,978,000 after buying an additional 51,874 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock worth $60,759,000 after buying an additional 110,849 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Itron by 2.2% during the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after buying an additional 11,918 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Itron by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock worth $39,126,000 after buying an additional 15,157 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joan S. Hooper sold 501 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $54,543.87. Following the sale, the chief financial officer now owns 72,847 shares in the company, valued at $7,930,852.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares in the company, valued at approximately $22,444,965.81. The disclosure for this sale can be found here. Insiders have sold 1,775 shares of company stock worth $192,613 in the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

About Itron

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.