Itron (NASDAQ:ITRI) Issues FY 2024 Earnings Guidance

Itron (NASDAQ:ITRI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.280-5.380 for the period, compared to the consensus EPS estimate of 4.570. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Itron also updated its Q4 guidance to $1.00-1.10 EPS.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ITRI. BNP Paribas began coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Robert W. Baird upped their price objective on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Roth Mkm restated a “buy” rating and set a $125.00 price objective on shares of Itron in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price objective on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Piper Sandler upped their price objective on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.67.

Itron Stock Up 8.4 %

Shares of NASDAQ ITRI traded up $8.70 during trading on Thursday, hitting $112.56. The stock had a trading volume of 720,826 shares, compared to its average volume of 514,506. Itron has a 12 month low of $56.11 and a 12 month high of $116.39. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The company has a market capitalization of $5.16 billion, a PE ratio of 32.41, a PEG ratio of 0.85 and a beta of 1.47. The firm has a fifty day moving average of $103.45 and a two-hundred day moving average of $102.35.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.25. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, equities research analysts forecast that Itron will post 4.58 EPS for the current fiscal year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is owned by company insiders.

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.