Itron (NASDAQ:ITRI) Updates Q2 Earnings Guidance

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

Itron Stock Performance

Itron stock traded up $7.19 during midday trading on Friday, reaching $107.01. The stock had a trading volume of 1,235,838 shares, compared to its average volume of 473,020. The firm has a market capitalization of $4.91 billion, a PE ratio of 30.75, a P/E/G ratio of 1.19 and a beta of 1.38. Itron has a 12 month low of $56.11 and a 12 month high of $107.11. The company has a quick ratio of 1.43, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $91.94 and its 200 day moving average price is $77.51.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.39. The company had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, research analysts predict that Itron will post 3.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITRI has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Itron from $108.00 to $115.00 and gave the stock an outperform rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. raised their target price on Itron from $77.00 to $92.00 and gave the stock a neutral rating in a research note on Wednesday, March 13th. Roth Mkm upped their price target on Itron from $102.00 to $112.00 and gave the company a buy rating in a research report on Friday. TheStreet upgraded shares of Itron from a c rating to a b- rating in a research report on Monday, February 26th. Finally, Piper Sandler reaffirmed an overweight rating and set a $109.00 price objective (up previously from $103.00) on shares of Itron in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $103.60.

Insider Transactions at Itron

In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the sale, the chief financial officer now owns 60,141 shares in the company, valued at $4,532,827.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, 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 have sold 30,467 shares of company stock valued at $2,752,520 in the last quarter. Insiders own 1.45% of the company’s stock.

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.