Brokers Issue Forecasts for Itron, Inc.’s Q2 2024 Earnings (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Analysts at Zacks Research lifted their Q2 2024 earnings estimates for shares of Itron in a research note issued on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings per share of $0.90 for the quarter, up from their prior forecast of $0.81. The consensus estimate for Itron’s current full-year earnings is $3.90 per share. Zacks Research also issued estimates for Itron’s Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $0.96 EPS, FY2025 earnings at $3.94 EPS, Q1 2026 earnings at $1.13 EPS and FY2026 earnings at $4.69 EPS.

ITRI has been the topic of a number of other reports. Roth Mkm increased their price objective on shares of Itron from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Piper Sandler lowered shares of Itron from an “overweight” rating to a “neutral” rating and set a $109.00 price target on the stock. in a research report on Tuesday. Stephens lifted their price objective on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. TD Cowen increased their target price on Itron from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Oppenheimer raised their price target on Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.18.

Itron Trading Down 0.6 %

Shares of ITRI stock opened at $107.10 on Wednesday. The stock has a market cap of $4.91 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.06 and a beta of 1.38. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. Itron has a fifty-two week low of $56.11 and a fifty-two week high of $109.97. The business has a fifty day simple moving average of $96.28 and a 200-day simple moving average of $82.19.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.85 by $0.39. The business 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%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 3,362 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.10, for a total value of $292,830.20. Following the completion of the sale, the chief executive officer now directly owns 205,162 shares in the company, valued at $17,869,610.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Christopher E. Ware sold 311 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the completion of the sale, the senior vice president now owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 3,362 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $292,830.20. Following the completion of the transaction, the chief executive officer now owns 205,162 shares in the company, valued at approximately $17,869,610.20. The disclosure for this sale can be found here. Insiders have sold a total of 26,923 shares of company stock worth $2,495,196 in the last three months. Company insiders own 1.45% of the company’s stock.

Institutional Investors Weigh In On Itron

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in Itron during the 4th quarter worth $27,000. Contravisory Investment Management Inc. boosted its position in shares of Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after buying an additional 131 shares during the period. Covestor Ltd grew its stake in shares of Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 549 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Itron during the 4th quarter valued at about $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Itron during the 4th quarter worth approximately $76,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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.