Analysts Expect Itron, Inc. (NASDAQ:ITRI) Will Post Quarterly Sales of $619.05 Million

Equities research analysts forecast that Itron, Inc. (NASDAQ:ITRI) will post sales of $619.05 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Itron’s earnings, with the lowest sales estimate coming in at $611.10 million and the highest estimate coming in at $627.00 million. Itron reported sales of $595.96 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The business is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Itron will report full year sales of $2.47 billion for the current year, with estimates ranging from $2.46 billion to $2.49 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.51 billion, with estimates ranging from $2.48 billion to $2.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Itron.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. Itron had a net margin of 2.52% and a return on equity of 19.51%. The business had revenue of $635.04 million during the quarter, compared to analyst estimates of $598.59 million. During the same period last year, the business posted $0.51 earnings per share. Itron’s quarterly revenue was up 8.4% compared to the same quarter last year.

Several equities analysts have recently issued reports on ITRI shares. Citigroup lifted their target price on shares of Itron from $68.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, July 1st. BidaskClub lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Stephens started coverage on shares of Itron in a report on Monday, July 8th. They set an “equal weight” rating and a $64.00 target price for the company. Argus upgraded shares of Itron from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Credit Suisse Group lowered shares of Itron to an “outperform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $71.50.

In related news, Director Thomas S. Glanville sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $66.38, for a total value of $199,140.00. Following the completion of the transaction, the director now directly owns 13,007 shares in the company, valued at approximately $863,404.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Sarah E. Hlavinka sold 3,195 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.33, for a total transaction of $234,289.35. Following the completion of the transaction, the senior vice president now owns 13,929 shares of the company’s stock, valued at $1,021,413.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,247 shares of company stock valued at $3,147,985. 2.35% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Itron by 1.2% in the 2nd quarter. BlackRock Inc. now owns 4,987,689 shares of the scientific and technical instruments company’s stock worth $312,079,000 after acquiring an additional 60,154 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in Itron in the 2nd quarter worth approximately $587,000. Neuberger Berman Group LLC grew its position in Itron by 48.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,159,467 shares of the scientific and technical instruments company’s stock worth $54,087,000 after purchasing an additional 378,967 shares during the period. Alps Advisors Inc. grew its position in Itron by 97.3% in the 2nd quarter. Alps Advisors Inc. now owns 54,645 shares of the scientific and technical instruments company’s stock worth $3,419,000 after purchasing an additional 26,944 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in Itron by 1.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 639,803 shares of the scientific and technical instruments company’s stock worth $40,032,000 after purchasing an additional 6,675 shares during the period. Institutional investors own 94.19% of the company’s stock.

Shares of ITRI stock traded down $2.46 during trading hours on Friday, hitting $71.50. 255,403 shares of the company’s stock traded hands, compared to its average volume of 320,804. The stock’s fifty day simple moving average is $71.32 and its two-hundred day simple moving average is $60.29. Itron has a 12-month low of $44.35 and a 12-month high of $77.80. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.01 and a beta of 1.09. The company has a quick ratio of 1.09, a current ratio of 1.44 and a debt-to-equity ratio of 1.39.

Itron Company Profile

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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