Itron (NASDAQ:ITRI) Posts Quarterly Earnings Results, Beats Expectations By $0.71 EPS

Itron (NASDAQ:ITRI) released its quarterly earnings data on Thursday. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71, Briefing.com reports. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share.

Itron Stock Up 0.0 %

Shares of Itron stock opened at $111.81 on Friday. The company has a fifty day moving average price of $103.88 and a 200 day moving average price of $102.57. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98. Itron has a twelve month low of $58.88 and a twelve month high of $116.39. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITRI shares. BNP Paribas assumed coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective on the stock. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, July 11th. TD Cowen lifted their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday. Janney Montgomery Scott initiated coverage on Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price for the company. Finally, Piper Sandler increased their price target on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. This 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 can be accessed through this link. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock worth $4,515,846 over the last quarter. 1.45% of the stock is owned by corporate 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.