Itron (NASDAQ:ITRI) Releases FY 2024 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 5.280-5.380 for the period, compared to the consensus EPS estimate of 4.570. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Itron also updated its Q4 guidance to $1.00-1.10 EPS.

Itron Price Performance

Shares of NASDAQ:ITRI traded up $8.70 during midday trading on Thursday, hitting $112.56. The stock had a trading volume of 720,826 shares, compared to its average volume of 514,506. The company’s 50-day moving average price is $103.45 and its 200-day moving average price is $102.35. The company has a market capitalization of $5.16 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 0.85 and a beta of 1.47. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $116.39.

Itron (NASDAQ:ITRI) last issued its 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. The company had revenue of $609.07 million during the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. As a group, equities research analysts predict that Itron will post 4.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITRI has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Robert W. Baird lifted their price target on shares of Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, July 11th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $125.00 price target on shares of Itron in a report on Wednesday, August 21st. Four equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $425,210.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 43,276 shares of company stock valued at $4,515,846 in the last ninety days. 1.45% of the stock is currently 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.