Itron (NASDAQ:ITRI) Updates Q4 Earnings Guidance

Itron (NASDAQ:ITRI) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.00-1.10 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Oppenheimer lifted their target price on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday. Roth Mkm raised their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen lifted their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

Itron Price Performance

Shares of Itron stock traded up $0.05 during trading hours on Friday, reaching $111.81. The stock had a trading volume of 963,729 shares, compared to its average volume of 495,505. Itron has a twelve month low of $58.88 and a twelve month high of $116.39. The company has a current ratio of 3.36, a quick ratio of 2.61 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average is $103.88 and its 200 day moving average is $102.65. The firm has a market capitalization of $5.03 billion, a PE ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same quarter last year, the company posted $0.98 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts expect that Itron will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’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 transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. 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, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,276 shares of company stock worth $4,515,846. Insiders own 1.45% of the company’s stock.

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.