Zacks Investment Research lowered shares of Itron, Inc. (NASDAQ:ITRI) from a hold rating to a sell rating in a research note published on Tuesday, July 11th.
According to Zacks, “Itron will continue to face temporary redundant costs in product development, and general & administrative expenses while executing its restructuring plans. Further, Itron‘s liquidity could be affected by the stability of the electricity, gas, and water industries, competitive pressures, changes in estimated liabilities for product warranties and litigation, future business combinations and capital market fluctuations. Moreover, the company's performance will be hurt by fluctuation in currency rates. Higher expenses and increased competition also pose challenges for the company in the near term.”
A number of other equities research analysts have also weighed in on ITRI. Canaccord Genuity restated a buy rating and issued a $72.00 price objective on shares of Itron in a report on Friday, May 26th. Guggenheim initiated coverage on shares of Itron in a research note on Tuesday, June 20th. They set a buy rating and a $81.00 price target on the stock. Finally, BidaskClub lowered shares of Itron from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Itron has an average rating of Buy and a consensus price target of $79.00.
Shares of Itron (NASDAQ ITRI) opened at 71.60 on Tuesday. Itron has a 1-year low of $47.15 and a 1-year high of $75.60. The company’s 50 day moving average price is $71.09 and its 200-day moving average price is $65.62. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 88.61 and a beta of 1.10.
Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Itron had a net margin of 1.60% and a return on equity of 15.43%. The business had revenue of $503.10 million for the quarter, compared to analyst estimates of $491.80 million. During the same period last year, the business earned $0.65 EPS. The company’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts forecast that Itron will post $3.07 earnings per share for the current year.
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Several hedge funds have recently modified their holdings of ITRI. PNC Financial Services Group Inc. increased its stake in shares of Itron by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after buying an additional 31 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 36 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Itron by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $656,000 after buying an additional 60 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Itron by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 23,807 shares of the scientific and technical instruments company’s stock valued at $1,613,000 after buying an additional 61 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 80 shares during the last quarter. 94.63% of the stock is currently owned by institutional investors and hedge funds.
Itron Company Profile
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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