Itron, Inc. (NASDAQ:ITRI)’s share price dropped NaN during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $66.05 and last traded at $0.00. Approximately 1,037,393 shares traded hands during mid-day trading, an increase of Infinity from the average daily volume of 0 shares. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). Itron had a return on equity of 14.84% and a net margin of 3.42%. The firm had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same period in the prior year, the company earned $0.77 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year.

ITRI has been the subject of several recent analyst reports. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $78.00 price objective on shares of Itron in a research report on Friday, July 14th. JMP Securities set a $88.00 price objective on shares of Itron and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective (up previously from $74.00) on shares of Itron in a research report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, August 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $81.78.

Several hedge funds have recently bought and sold shares of ITRI. SG Americas Securities LLC lifted its holdings in shares of Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock worth $144,000 after acquiring an additional 36 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Itron by 15.1% in the first quarter. Teachers Advisors LLC now owns 318,728 shares of the scientific and technical instruments company’s stock worth $19,347,000 after acquiring an additional 41,906 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Itron by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,795,716 shares of the scientific and technical instruments company’s stock worth $230,400,000 after acquiring an additional 271,194 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Itron by 3.8% in the first quarter. Geode Capital Management LLC now owns 282,856 shares of the scientific and technical instruments company’s stock worth $17,169,000 after acquiring an additional 10,293 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Itron by 153,249.9% in the first quarter. BlackRock Inc. now owns 4,339,801 shares of the scientific and technical instruments company’s stock worth $263,427,000 after acquiring an additional 4,336,971 shares during the last quarter. 93.49% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.67 and a quick ratio of 1.18.

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About Itron

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

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