Itron (NASDAQ:ITRI) Issues Q4 Earnings Guidance

Itron (NASDAQ:ITRI) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $1.00-1.10 for the period, compared to the consensus EPS estimate of $1.01. The company issued revenue guidance of $600-610 million, compared to the consensus revenue estimate of $596.86 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Itron Stock Up 0.0 %

Itron stock traded up $0.05 during trading on Friday, hitting $111.81. 963,729 shares of the company were exchanged, compared to its average volume of 495,505. The company has a market capitalization of $5.03 billion, a P/E ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The business’s 50 day moving average is $103.88 and its 200 day moving average is $102.65. Itron has a 52 week low of $58.88 and a 52 week high of $116.39. The company has a current ratio of 3.36, a quick ratio of 2.61 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. Analysts predict that Itron will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

ITRI has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday. BNP Paribas initiated coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Janney Montgomery Scott assumed coverage on Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Oppenheimer boosted their price target on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Insiders Place Their Bets

In related news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock worth $4,515,846 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

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.