Itron, Inc. (NASDAQ:ITRI) Expected to Post Quarterly Sales of $525.66 Million

Analysts expect that Itron, Inc. (NASDAQ:ITRI) will report $525.66 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Itron’s earnings, with the highest sales estimate coming in at $538.30 million and the lowest estimate coming in at $514.40 million. Itron posted sales of $540.18 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.7%. The firm is expected to announce its next earnings report on Monday, November 1st.

According to Zacks, analysts expect that Itron will report full year sales of $2.08 billion for the current fiscal year, with estimates ranging from $2.05 billion to $2.11 billion. For the next fiscal year, analysts expect that the business will post sales of $2.25 billion, with estimates ranging from $2.19 billion to $2.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Itron.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, August 5th. The scientific and technical instruments company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.20). The firm had revenue of $489.41 million for the quarter, compared to the consensus estimate of $531.53 million. Itron had a negative net margin of 1.17% and a positive return on equity of 8.43%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share.

A number of analysts have weighed in on ITRI shares. Raymond James upgraded Itron from an “outperform” rating to a “strong-buy” rating and set a $98.00 price target on the stock in a research report on Friday, August 6th. Argus decreased their target price 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. JPMorgan Chase & Co. increased their target price on Itron from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, July 21st. Piper Sandler cut their price target on Itron from $103.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, August 6th. Finally, Canaccord Genuity cut their target price on Itron from $126.00 to $87.00 and set a “buy” rating on the stock in a research note on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $97.00.

In related news, 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 completion of the transaction, the senior vice president now directly owns 28,708 shares in the company, valued at $2,282,860.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP John F. Marcolini sold 342 shares of the stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $98.19, for a total value of $33,580.98. The disclosure for this sale can be found here. Insiders sold 14,013 shares of company stock valued at $1,125,152 over the last 90 days. Corporate insiders own 1.25% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ITRI. Essex Investment Management Co. LLC lifted its position in shares of Itron by 32.4% in the first quarter. Essex Investment Management Co. LLC now owns 40,939 shares of the scientific and technical instruments company’s stock valued at $3,629,000 after buying an additional 10,015 shares during the last quarter. Ninety One UK Ltd lifted its position in shares of Itron by 29.8% in the second quarter. Ninety One UK Ltd now owns 1,165,293 shares of the scientific and technical instruments company’s stock valued at $116,506,000 after buying an additional 267,210 shares during the last quarter. Brookfield Asset Management Inc. lifted its position in shares of Itron by 20.3% in the first quarter. Brookfield Asset Management Inc. now owns 101,551 shares of the scientific and technical instruments company’s stock valued at $9,002,000 after buying an additional 17,151 shares during the last quarter. Steelhead Partners LLC acquired a new stake in shares of Itron in the first quarter valued at approximately $1,871,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of Itron by 8.3% in the second quarter. Mutual of America Capital Management LLC now owns 6,417 shares of the scientific and technical instruments company’s stock valued at $642,000 after buying an additional 494 shares during the last quarter. Hedge funds and other institutional investors own 97.69% of the company’s stock.

NASDAQ:ITRI traded up $0.37 during trading hours on Friday, reaching $79.14. The company had a trading volume of 4,235 shares, compared to its average volume of 435,274. The stock has a 50-day moving average of $83.84 and a two-hundred day moving average of $89.65. Itron has a one year low of $55.19 and a one year high of $122.31. The firm has a market capitalization of $3.58 billion, a PE ratio of -149.73, a PEG ratio of 5.07 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.64 and a debt-to-equity ratio of 0.40.

Itron Company Profile

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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Earnings History and Estimates for Itron (NASDAQ:ITRI)

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