Oppenheimer Weighs in on Itron, Inc.’s Q3 2018 Earnings (ITRI)
Itron, Inc. (NASDAQ:ITRI) – Oppenheimer issued their Q3 2018 earnings estimates for shares of Itron in a research note issued on Thursday. Oppenheimer analyst N. Kaye anticipates that the scientific and technical instruments company will earn $0.92 per share for the quarter. Oppenheimer currently has a “Buy” rating and a $78.00 target price on the stock. Oppenheimer also issued estimates for Itron’s FY2018 earnings at $3.12 EPS, FY2019 earnings at $4.76 EPS and FY2020 earnings at $6.18 EPS.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. Itron had a net margin of 2.84% and a return on equity of 15.84%. The company had revenue of $550.78 million during the quarter, compared to the consensus estimate of $532.61 million. During the same period in the prior year, the firm earned $0.68 earnings per share. Itron’s revenue was up 11.1% on a year-over-year basis.
Shares of Itron (NASDAQ:ITRI) opened at $74.50 on Friday. The firm has a market cap of $2,881.66, a P/E ratio of 51.03, a P/E/G ratio of 1.16 and a beta of 1.03. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. Itron has a 1 year low of $57.80 and a 1 year high of $79.95.
Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. acquired a new stake in shares of Itron during the third quarter valued at about $620,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Itron by 39.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,080 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after purchasing an additional 4,870 shares during the period. Legal & General Group Plc lifted its stake in Itron by 3.4% in the third quarter. Legal & General Group Plc now owns 67,068 shares of the scientific and technical instruments company’s stock worth $5,193,000 after acquiring an additional 2,190 shares during the last quarter. AMP Capital Investors Ltd lifted its stake in Itron by 110.3% in the third quarter. AMP Capital Investors Ltd now owns 8,200 shares of the scientific and technical instruments company’s stock worth $635,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Rockefeller Financial Services Inc. lifted its stake in Itron by 26.2% in the fourth quarter. Rockefeller Financial Services Inc. now owns 12,230 shares of the scientific and technical instruments company’s stock worth $834,000 after acquiring an additional 2,536 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
In other news, CEO Philip Mezey sold 3,330 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $68.30, for a total value of $227,439.00. Following the completion of the sale, the chief executive officer now directly owns 54,327 shares in the company, valued at $3,710,534.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shannon M. Votava sold 6,661 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $71.58, for a total transaction of $476,794.38. Following the completion of the sale, the vice president now owns 16,459 shares of the company’s stock, valued at $1,178,135.22. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 750,261 shares of company stock worth $51,839,736 and have sold 26,607 shares worth $1,863,856. Corporate insiders own 2.03% of the company’s stock.
Itron Company Profile
Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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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