Itron (NASDAQ:ITRI) Updates FY 2024 Earnings Guidance

Itron (NASDAQ:ITRI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.280-5.380 for the period, compared to the consensus estimate of 4.570. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Itron also updated its Q4 guidance to $1.00-1.10 EPS.

Itron Stock Up 0.0 %

NASDAQ:ITRI traded up $0.05 during mid-day trading on Friday, hitting $111.81. 963,729 shares of the company’s stock were exchanged, compared to its average volume of 495,505. Itron has a one year low of $58.88 and a one year high of $116.39. The business has a fifty day moving average price of $103.88 and a 200 day moving average price of $102.65. The company has a market cap of $5.03 billion, a PE ratio of 22.91, a P/E/G ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on ITRI. BNP Paribas began coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. Robert W. Baird upped their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday. Stephens reissued an “equal weight” rating and set a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Piper Sandler increased their price objective on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Janney Montgomery Scott initiated coverage on shares of Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now directly 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 document filed with the SEC, which can be accessed through this hyperlink. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is owned by corporate insiders.

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.