Itron (NASDAQ:ITRI) Releases Q2 Earnings Guidance

Itron (NASDAQ:ITRI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.90-1.00 for the period, compared to the consensus earnings per share estimate of $0.85. The company issued revenue guidance of $595-605 million, compared to the consensus revenue estimate of $583.61 million.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of recent analyst reports. Oppenheimer raised shares of Itron from a market perform rating to an outperform rating and set a $81.00 target price on the stock in a research report on Friday, January 19th. Roth Mkm reaffirmed a buy rating and issued a $102.00 price target on shares of Itron in a report on Tuesday, April 23rd. Canaccord Genuity Group raised Itron from a hold rating to a buy rating and increased their price target for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. Canaccord Genuity Group upgraded Itron from a hold rating to a buy rating and raised their price target for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Finally, Robert W. Baird lifted their price objective on Itron from $108.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $97.60.

Itron Stock Up 8.5 %

Shares of Itron stock traded up $7.80 during trading on Thursday, reaching $99.34. The stock had a trading volume of 282,114 shares, compared to its average volume of 412,287. Itron has a 52 week low of $53.49 and a 52 week high of $100.95. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 46.00, a P/E/G ratio of 1.02 and a beta of 1.38. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The stock has a fifty day moving average price of $90.81 and a two-hundred day moving average price of $76.89.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.48. The firm had revenue of $577.17 million for the quarter, compared to analyst estimates of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. Sell-side analysts predict that Itron will post 3.61 EPS for the current fiscal year.

Insider Activity

In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the transaction, the director now directly owns 5,750 shares in the company, valued at approximately $547,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,467 shares of company stock valued at $2,752,520. 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.