Itron (NASDAQ:ITRI) Releases Q2 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.90-1.00 for the period, compared to the consensus estimate of $0.85. The company issued revenue guidance of $595-605 million, compared to the consensus revenue estimate of $583.61 million.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a research note on Wednesday, March 13th. Piper Sandler reaffirmed an overweight rating and issued a $109.00 target price (up previously from $103.00) on shares of Itron in a research report on Friday. TD Cowen raised their target price on Itron from $110.00 to $115.00 and gave the company a buy rating in a report on Friday. Canaccord Genuity Group upped their price target on Itron from $105.00 to $115.00 and gave the stock a buy rating in a report on Friday. Finally, Oppenheimer lifted their price objective on shares of Itron from $100.00 to $110.00 and gave the company an outperform rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $103.60.

Itron Stock Up 7.2 %

Shares of ITRI traded up $7.19 during mid-day trading on Friday, reaching $107.01. 1,235,838 shares of the stock traded hands, compared to its average volume of 473,020. The company has a quick ratio of 1.43, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $91.94 and a 200 day simple moving average of $77.51. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. Itron has a 12-month low of $56.11 and a 12-month high of $107.11.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The business had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Sell-side analysts expect that Itron will post 3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Itron news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. Insiders own 1.45% of the company’s stock.

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.