Itron (NASDAQ:ITRI) Updates 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITRI shares. Roth Mkm lifted their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday. TD Cowen increased their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler lifted their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday. Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Finally, Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Itron Stock Performance

Shares of ITRI stock traded up $0.05 during trading hours on Friday, hitting $111.81. The company’s stock had a trading volume of 963,729 shares, compared to its average volume of 495,505. The stock has a market cap of $5.03 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. Itron has a 12-month low of $58.88 and a 12-month high of $116.39. The company has a 50 day moving average of $103.88 and a 200 day moving average of $102.65. 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 released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. Itron’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, sell-side analysts forecast that Itron will post 4.58 EPS for the current fiscal year.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction on 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 in the company, valued at $21,519,083.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,515,846 in the last three months. 1.45% of the stock is owned by company 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.