Analysts Expect Itron, Inc. (NASDAQ:ITRI) Will Announce Earnings of $0.49 Per Share

Equities analysts expect that Itron, Inc. (NASDAQ:ITRI) will announce earnings per share (EPS) of $0.49 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Itron’s earnings, with estimates ranging from $0.40 to $0.60. Itron posted earnings of $0.51 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The firm is expected to report its next earnings report on Monday, August 5th.

According to Zacks, analysts expect that Itron will report full year earnings of $2.66 per share for the current fiscal year, with EPS estimates ranging from $2.59 to $2.75. For the next year, analysts anticipate that the firm will post earnings of $3.53 per share, with EPS estimates ranging from $3.20 to $3.85. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Itron.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, May 6th. The scientific and technical instruments company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.27. The firm had revenue of $614.58 million for the quarter, compared to analysts’ expectations of $591.88 million. Itron had a net margin of 1.87% and a return on equity of 17.97%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share.

Several analysts have weighed in on the stock. Robert W. Baird raised shares of Itron from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $62.00 in a research note on Tuesday, May 7th. Zacks Investment Research raised shares of Itron from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 1st. ValuEngine raised shares of Itron from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Oppenheimer increased their price target on shares of Itron from $60.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. Finally, BidaskClub raised shares of Itron from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Itron has an average rating of “Buy” and an average target price of $68.50.

In other news, major shareholder Scopia Capital Management Lp sold 4,340 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $48.03, for a total transaction of $208,450.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Philip Mezey sold 31,205 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $59.07, for a total transaction of $1,843,279.35. Following the sale, the insider now directly owns 109,185 shares in the company, valued at $6,449,557.95. The disclosure for this sale can be found here. Insiders have sold 464,911 shares of company stock worth $24,912,054 over the last three months. 2.35% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in Itron by 9.5% in the fourth quarter. Geode Capital Management LLC now owns 390,825 shares of the scientific and technical instruments company’s stock valued at $18,482,000 after acquiring an additional 33,782 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Itron by 18.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 17,738 shares of the scientific and technical instruments company’s stock valued at $839,000 after acquiring an additional 2,811 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Itron by 48.6% in the first quarter. Neuberger Berman Group LLC now owns 1,159,467 shares of the scientific and technical instruments company’s stock valued at $54,087,000 after acquiring an additional 378,967 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new position in Itron in the fourth quarter valued at approximately $603,000. Finally, Osborn Williams & Donohoe LLC bought a new position in Itron in the first quarter valued at approximately $95,000. 97.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Itron stock opened at $62.57 on Wednesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.40 and a quick ratio of 1.07. The company has a market capitalization of $2.46 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 0.92 and a beta of 1.22. Itron has a 1-year low of $44.35 and a 1-year high of $66.95. The business’s 50-day moving average price is $58.88.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use 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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