Itron (NASDAQ:ITRI) Posts Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Itron (NASDAQ:ITRI) posted its quarterly earnings results on Thursday. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.39, Briefing.com reports. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Itron updated its Q2 guidance to $0.90-1.00 EPS.

Itron Stock Up 7.2 %

Shares of NASDAQ ITRI opened at $107.01 on Friday. The company has a 50 day simple moving average of $91.94 and a 200 day simple moving average of $77.39. The firm has a market cap of $4.91 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. Itron has a 1 year low of $56.11 and a 1 year high of $107.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.43.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity Group upped their price target on shares of Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen raised their price target on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday. TheStreet raised Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $109.00 price target (up previously from $103.00) on shares of Itron in a research note on Friday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.60.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 1,912 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Thomas Deitrich sold 1,912 shares of Itron stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of Itron 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 sale, the director now owns 5,750 shares in the company, valued at $547,687.50. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock worth $2,752,520 in the last quarter. 1.45% of the stock is owned by 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.