Analysts Expect Itron, Inc. (ITRI) Will Post Quarterly Sales of $627.83 Million

Equities analysts expect that Itron, Inc. (NASDAQ:ITRI) will post $627.83 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Itron’s earnings. The highest sales estimate is $687.50 million and the lowest is $590.90 million. Itron reported sales of $550.78 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14%. The firm is expected to issue its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Itron will report full year sales of $2.41 billion for the current year, with estimates ranging from $2.38 billion to $2.45 billion. For the next fiscal year, analysts expect that the company will post sales of $2.51 billion, with estimates ranging from $2.46 billion to $2.56 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Itron.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.24. The business had revenue of $595.96 million for the quarter, compared to analyst estimates of $604.98 million. Itron had a negative net margin of 5.19% and a positive return on equity of 15.20%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS.

A number of equities research analysts have recently issued reports on ITRI shares. JMP Securities set a $80.00 target price on shares of Itron and gave the company a “buy” rating in a research note on Tuesday, November 6th. BidaskClub lowered shares of Itron from a “sell” rating to a “strong sell” rating in a research note on Friday, July 27th. ValuEngine lowered shares of Itron from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Argus lowered shares of Itron from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Cowen set a $80.00 target price on shares of Itron and gave the company a “buy” rating in a research note on Monday, August 6th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Itron currently has a consensus rating of “Hold” and an average target price of $77.00.

In related news, insider Philip Mezey sold 16,694 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $65.04, for a total transaction of $1,085,777.76. Following the completion of the sale, the insider now owns 93,341 shares of the company’s stock, valued at approximately $6,070,898.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.03% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new stake in shares of Itron during the 3rd quarter valued at about $202,000. BSW Wealth Partners bought a new stake in shares of Itron during the 3rd quarter valued at about $244,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Itron during the 2nd quarter valued at about $271,000. Cubist Systematic Strategies LLC grew its position in shares of Itron by 21.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock valued at $308,000 after buying an additional 909 shares during the last quarter. Finally, CAPROCK Group Inc. grew its position in shares of Itron by 28.7% during the 2nd quarter. CAPROCK Group Inc. now owns 6,035 shares of the scientific and technical instruments company’s stock valued at $362,000 after buying an additional 1,346 shares during the last quarter. 93.73% of the stock is owned by institutional investors and hedge funds.

Shares of Itron stock opened at $53.99 on Friday. The stock has a market capitalization of $2.20 billion, a PE ratio of 20.09, a P/E/G ratio of 0.91 and a beta of 1.10. The company has a current ratio of 1.41, a quick ratio of 1.18 and a debt-to-equity ratio of 1.41. Itron has a 1 year low of $49.59 and a 1 year high of $77.40.

About Itron

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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