Itron (NASDAQ:ITRI) Updates FY 2021 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its FY 2021 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.300-2.700 for the period, compared to the Thomson Reuters consensus estimate of $2.380. The company issued revenue guidance of -.

ITRI has been the subject of several research analyst reports. Argus raised shares of Itron from a hold rating to a buy rating and set a $140.00 price target for the company in a report on Tuesday, March 9th. Piper Sandler assumed coverage on shares of Itron in a report on Thursday, April 1st. They issued an overweight rating and a $120.00 price target for the company. Canaccord Genuity reduced their target price on shares of Itron from $140.00 to $126.00 and set a buy rating for the company in a research note on Tuesday, May 4th. Morgan Stanley started coverage on shares of Itron in a research note on Wednesday, March 31st. They issued an equal weight rating and a $90.00 target price for the company. Finally, Oppenheimer cut their price target on shares of Itron from $127.00 to $105.00 and set an outperform rating on the stock in a research report on Monday, May 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $106.00.

NASDAQ ITRI traded up $0.51 on Monday, hitting $89.17. 7,752 shares of the company’s stock were exchanged, compared to its average volume of 545,307. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.65. Itron has a 52 week low of $53.49 and a 52 week high of $122.31. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -54.68 and a beta of 1.18. The stock has a 50-day moving average of $89.42 and a 200-day moving average of $90.77.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Sunday, May 2nd. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Itron had a positive return on equity of 9.74% and a negative net margin of 2.85%. The company had revenue of $519.60 million during the quarter, compared to analysts’ expectations of $547.37 million. During the same quarter in the previous year, the firm earned $0.57 EPS. Itron’s revenue was down 13.2% on a year-over-year basis. As a group, analysts predict that Itron will post 1.48 earnings per share for the current year.

In other Itron news, CFO Joan S. Hooper sold 486 shares of the company’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $86.95, for a total value of $42,257.70. Following the completion of the transaction, the chief financial officer now owns 39,230 shares of the company’s stock, valued at approximately $3,411,048.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michel Cadieux sold 6,316 shares of the company’s stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $95.25, for a total value of $601,599.00. Following the completion of the sale, the senior vice president now owns 29,542 shares in the company, valued at approximately $2,813,875.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,079 shares of company stock valued at $667,374. Insiders own 1.72% of the company’s stock.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Earnings History and Estimates for Itron (NASDAQ:ITRI)

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