Itron (NASDAQ:ITRI) Issues Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Itron (NASDAQ:ITRI) issued its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.27, Briefing.com reports. Itron had a net margin of 10.69% and a return on equity of 17.82%. During the same quarter in the prior year, the company posted $1.35 EPS. The company’s revenue was down 6.7% compared to the same quarter last year.

Itron Stock Down 6.7%

Shares of NASDAQ:ITRI opened at $89.36 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $97.61 and a two-hundred day simple moving average of $110.66. Itron has a 12-month low of $88.57 and a 12-month high of $142.00. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 0.51 and a beta of 1.48.

Insider Transactions at Itron

In related news, SVP John F. Marcolini sold 553 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $53,370.03. Following the transaction, the senior vice president owned 13,843 shares in the company, valued at $1,335,987.93. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 536 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $51,729.36. Following the sale, the senior vice president directly owned 19,068 shares in the company, valued at $1,840,252.68. This trade represents a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,113 shares of company stock valued at $301,678. 1.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Itron

Several institutional investors and hedge funds have recently made changes to their positions in ITRI. ExodusPoint Capital Management LP bought a new position in Itron in the 4th quarter valued at approximately $1,908,000. Mariner LLC raised its stake in shares of Itron by 60.2% in the fourth quarter. Mariner LLC now owns 3,208 shares of the scientific and technical instruments company’s stock worth $300,000 after purchasing an additional 1,205 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Itron during the fourth quarter valued at $723,000. Kestra Advisory Services LLC lifted its holdings in shares of Itron by 6.3% during the fourth quarter. Kestra Advisory Services LLC now owns 6,319 shares of the scientific and technical instruments company’s stock valued at $587,000 after purchasing an additional 374 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Itron by 34.2% during the fourth quarter. Marshall Wace LLP now owns 250,778 shares of the scientific and technical instruments company’s stock valued at $23,287,000 after buying an additional 63,905 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Weiss Ratings cut shares of Itron from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Oppenheimer reduced their target price on Itron from $145.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, January 27th. Argus restated a “hold” rating on shares of Itron in a research note on Tuesday, November 4th. Robert W. Baird restated a “neutral” rating and set a $118.00 price target (down from $137.00) on shares of Itron in a research report on Friday, October 31st. Finally, Guggenheim set a $155.00 price target on Itron in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $136.10.

About Itron

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.