Itron (NASDAQ:ITRI) Posts Earnings Results, Beats Expectations By $0.27 EPS

Itron (NASDAQ:ITRI) released its quarterly earnings data on Tuesday. The scientific and technical instruments company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.27, Briefing.com reports. Itron had a net margin of 10.69% and a return on equity of 17.82%. Itron’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share.

Itron Stock Performance

NASDAQ:ITRI opened at $89.36 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.17. The stock has a 50-day simple moving average of $97.61 and a two-hundred day simple moving average of $110.66. The firm has a market capitalization of $4.09 billion, a PE ratio of 16.07, a P/E/G ratio of 0.51 and a beta of 1.48. Itron has a 52-week low of $88.57 and a 52-week high of $142.00.

Insider Transactions at Itron

In other Itron news, SVP Christopher E. Ware sold 343 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $33,102.93. Following the sale, the senior vice president owned 18,774 shares in the company, valued at approximately $1,811,878.74. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin K. Patrick sold 379 shares of Itron stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $36,577.29. Following the transaction, the senior vice president directly owned 20,382 shares in the company, valued at $1,967,066.82. This represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,113 shares of company stock valued at $301,678. Company insiders own 1.51% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in Itron by 343.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 268 shares in the last quarter. M&T Bank Corp lifted its position in shares of Itron by 10.0% in the second quarter. M&T Bank Corp now owns 2,141 shares of the scientific and technical instruments company’s stock valued at $282,000 after acquiring an additional 194 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Itron by 25.3% in the second quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 81 shares during the period. Jump Financial LLC purchased a new stake in shares of Itron during the second quarter worth about $1,609,000. Finally, Cerity Partners LLC grew its position in shares of Itron by 10.2% during the second quarter. Cerity Partners LLC now owns 5,431 shares of the scientific and technical instruments company’s stock worth $715,000 after purchasing an additional 503 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ITRI shares. Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Stephens upgraded Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Monday, November 3rd. Oppenheimer cut their price objective on Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, January 27th. Guggenheim set a $155.00 price objective on Itron in a research report on Friday. Finally, Johnson Rice raised Itron from an “accumulate” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.10.

Itron Company Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.