Itron, Inc. (NASDAQ:ITRI) Expected to Announce Earnings of $0.22 Per Share

Equities research analysts expect Itron, Inc. (NASDAQ:ITRI) to report $0.22 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Itron’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.09. Itron reported earnings per share of $0.65 during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.2%. The firm is scheduled to issue its next earnings report on Wednesday, February 23rd.

According to Zacks, analysts expect that Itron will report full-year earnings of $1.22 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.44. For the next financial year, analysts forecast that the business will report earnings of $2.19 per share, with EPS estimates ranging from $1.71 to $2.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Itron.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, November 4th. The scientific and technical instruments company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The company had revenue of $486.95 million during the quarter, compared to the consensus estimate of $526.96 million. Itron had a positive return on equity of 6.31% and a negative net margin of 0.04%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS.

ITRI has been the topic of a number of analyst reports. Robert W. Baird lowered Itron from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $100.00 to $75.00 in a report on Friday, August 6th. Cowen lowered their price objective on Itron from $113.00 to $93.00 and set an “outperform” rating on the stock in a report on Wednesday, October 6th. Zacks Investment Research raised Itron from a “sell” rating to a “hold” rating and set a $72.00 price objective on the stock in a report on Thursday, November 18th. Argus lowered their price objective on Itron from $120.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, September 20th. They noted that the move was a valuation call. Finally, Wells Fargo & Company began coverage on Itron in a report on Thursday, September 30th. They issued an “equal weight” rating and a $75.00 target price on the stock. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $89.45.

Shares of NASDAQ ITRI traded down $0.99 during mid-day trading on Thursday, reaching $66.09. 168,527 shares of the company traded hands, compared to its average volume of 413,802. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.26 and a current ratio of 1.62. The stock has a market cap of $2.99 billion, a PE ratio of 1,101.68, a price-to-earnings-growth ratio of 4.57 and a beta of 1.17. The company’s fifty day moving average is $74.93 and its two-hundred day moving average is $84.94. Itron has a fifty-two week low of $64.69 and a fifty-two week high of $122.31.

In related news, Director Lynda L. Ziegler sold 600 shares of the stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $76.37, for a total transaction of $45,822.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michel Cadieux sold 10,180 shares of the stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $79.52, for a total transaction of $809,513.60. Following the sale, the senior vice president now owns 28,708 shares of the company’s stock, valued at approximately $2,282,860.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,740 shares of company stock valued at $1,082,576. Corporate insiders own 1.25% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Itron by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 446,675 shares of the scientific and technical instruments company’s stock worth $33,783,000 after acquiring an additional 5,901 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Itron by 7.8% during the 3rd quarter. Janus Henderson Group PLC now owns 717,275 shares of the scientific and technical instruments company’s stock worth $54,247,000 after acquiring an additional 51,636 shares during the last quarter. Brookfield Asset Management Inc. grew its holdings in Itron by 6.1% during the 3rd quarter. Brookfield Asset Management Inc. now owns 111,351 shares of the scientific and technical instruments company’s stock worth $8,421,000 after acquiring an additional 6,400 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Itron during the 3rd quarter worth about $492,000. Finally, Two Sigma Investments LP bought a new stake in Itron during the 3rd quarter worth about $4,394,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

About Itron

Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.

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