Equities research analysts expect Itron, Inc. (NASDAQ:ITRI) to announce $619.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Itron’s earnings, with the highest sales estimate coming in at $627.00 million and the lowest estimate coming in at $611.10 million. Itron reported sales of $595.96 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The company is scheduled to announce its next earnings report after the market closes on Monday, November 4th.
On average, analysts expect that Itron will report full-year sales of $2.47 billion for the current fiscal year, with estimates ranging from $2.46 billion to $2.49 billion. For the next financial year, analysts expect that the company will post sales of $2.52 billion, with estimates ranging from $2.48 billion to $2.57 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Itron.
Itron (NASDAQ:ITRI) last posted its earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.39. Itron had a return on equity of 19.51% and a net margin of 2.52%. The firm had revenue of $635.04 million during the quarter, compared to analyst estimates of $598.59 million. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.
In other news, Director Thomas S. Glanville sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $66.38, for a total transaction of $199,140.00. Following the sale, the director now directly owns 13,007 shares in the company, valued at $863,404.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michel Cadieux sold 34,683 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $71.13, for a total value of $2,467,001.79. Following the sale, the senior vice president now owns 49,702 shares in the company, valued at $3,535,303.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,667 shares of company stock worth $5,585,025. 2.35% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. Foundry Partners LLC grew its position in Itron by 11.8% in the third quarter. Foundry Partners LLC now owns 214,285 shares of the scientific and technical instruments company’s stock valued at $15,849,000 after acquiring an additional 22,689 shares during the period. AMI Asset Management Corp bought a new stake in Itron in the third quarter valued at $7,221,000. Essex Investment Management Co. LLC grew its position in Itron by 4.4% in the third quarter. Essex Investment Management Co. LLC now owns 48,531 shares of the scientific and technical instruments company’s stock valued at $3,589,000 after acquiring an additional 2,059 shares during the period. Strs Ohio grew its position in Itron by 266.7% in the third quarter. Strs Ohio now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $162,000 after acquiring an additional 1,600 shares during the period. Finally, Robecosam AG grew its position in Itron by 64.0% in the third quarter. Robecosam AG now owns 225,500 shares of the scientific and technical instruments company’s stock valued at $16,464,000 after acquiring an additional 88,000 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.
ITRI traded down $0.57 on Friday, hitting $77.20. The company had a trading volume of 91,592 shares, compared to its average volume of 234,371. The company’s fifty day moving average price is $74.01 and its 200 day moving average price is $63.08. Itron has a 1-year low of $44.35 and a 1-year high of $78.87. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.44 and a quick ratio of 1.09. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08.
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
Recommended Story: What Is An Exchange-Traded Fund (ETF)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.