Itron (NASDAQ:ITRI) Announces Earnings Results

Itron (NASDAQ:ITRI) posted its earnings results on Thursday. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.39, Briefing.com reports. The company had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. Itron’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Itron updated its Q2 guidance to $0.90-1.00 EPS.

Itron Price Performance

Itron stock opened at $107.01 on Friday. Itron has a 1 year low of $56.11 and a 1 year high of $107.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.43 and a current ratio of 1.90. The firm has a 50 day moving average price of $91.94 and a 200 day moving average price of $77.51. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.19 and a beta of 1.38.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Oppenheimer raised their target price on shares of Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen lifted their price objective on Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating and set a $109.00 target price (up previously from $103.00) on shares of Itron in a report on Friday. JPMorgan Chase & Co. upped their price objective on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Finally, Canaccord Genuity Group lifted their price objective on Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Itron has an average rating of “Moderate Buy” and an average price target of $103.60.

Insider Buying and Selling at Itron

In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now directly owns 60,141 shares in the company, valued at $4,532,827.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares of the company’s stock, valued at approximately $4,532,827.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the transaction, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock worth $2,752,520 in the last quarter. 1.45% of the stock is owned by insiders.

About Itron

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.