Itron (NASDAQ:ITRI) Issues Q4 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ITRI. TD Cowen raised their price target on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Roth Mkm restated a “buy” rating and issued a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, July 11th. Stephens restated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Finally, Janney Montgomery Scott started coverage on shares of Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average price target of $119.67.

Itron Trading Up 8.6 %

NASDAQ:ITRI traded up $8.91 during midday trading on Thursday, hitting $112.77. The stock had a trading volume of 545,486 shares, compared to its average volume of 513,561. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average of $103.36 and a 200 day moving average of $102.34. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 0.85 and a beta of 1.47. Itron has a one year low of $56.11 and a one year high of $116.39.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Itron will post 4.58 EPS for the current year.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the company’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 completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Joan S. Hooper sold 509 shares of the company’s 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 transaction, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. 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. Also, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,276 shares of company stock valued at $4,515,846. Company 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.