Itron, Inc. (NASDAQ:ITRI) issued its earnings results on Wednesday. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12), Bloomberg Earnings reports. Itron had a net margin of 3.42% and a return on equity of 14.84%. The business had revenue of $486.75 million for the quarter, compared to the consensus estimate of $526.55 million. During the same period in the previous year, the firm earned $0.77 EPS. The company’s revenue was down 4.0% compared to the same quarter last year.
Several research firms have recently weighed in on ITRI. JMP Securities set a $102.00 price target on shares of Itron and gave the stock a “buy” rating in a report on Thursday, October 12th. Canaccord Genuity reaffirmed a “hold” rating and issued a $78.00 price target on shares of Itron in a report on Friday, October 6th. Zacks Investment Research cut shares of Itron from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $77.00 price target on shares of Itron in a report on Tuesday, September 12th. Finally, Argus reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $78.00) on shares of Itron in a report on Tuesday, September 12th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Itron currently has an average rating of “Buy” and an average target price of $81.78.
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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