Itron (NASDAQ:ITRI) Releases Q4 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.00-1.10 for the period, compared to the consensus estimate of $1.01. The company issued revenue guidance of $600-610 million, compared to the consensus revenue estimate of $596.86 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ITRI shares. Roth Mkm reissued a “buy” rating and issued a $125.00 price objective on shares of Itron in a report on Wednesday, August 21st. Piper Sandler upped their target price on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. BNP Paribas started coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Finally, TD Cowen raised their target price on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Itron Trading Up 8.6 %

Itron stock traded up $8.91 during trading on Thursday, hitting $112.77. The company’s stock had a trading volume of 545,486 shares, compared to its average volume of 513,561. The stock’s fifty day moving average is $103.36 and its 200 day moving average is $102.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. Itron has a 1-year low of $56.11 and a 1-year high of $116.39. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 0.85 and a beta of 1.47.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The company had revenue of $609.07 million for 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%. Itron’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. As a group, equities research analysts predict that Itron will post 4.58 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,515,846 over the last three months. 1.45% of the stock is owned by insiders.

About Itron

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.