FY2018 Earnings Estimate for Itron, Inc. (ITRI) Issued By Oppenheimer

Itron, Inc. (NASDAQ:ITRI) – Equities research analysts at Oppenheimer reduced their FY2018 earnings per share (EPS) estimates for Itron in a report issued on Thursday. Oppenheimer analyst N. Kaye now forecasts that the scientific and technical instruments company will post earnings of $3.23 per share for the year, down from their prior forecast of $3.57.

A number of other analysts also recently issued reports on the company. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Monday, August 28th. JMP Securities set a $102.00 price target on Itron and gave the stock a “buy” rating in a research report on Thursday, October 12th. Argus restated a “buy” rating and issued a $80.00 price target (up from $78.00) on shares of Itron in a research report on Tuesday, September 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of Itron in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $81.78.

Shares of Itron (NASDAQ:ITRI) traded down $0.50 on Monday, reaching $68.05. The company had a trading volume of 157,800 shares, compared to its average volume of 213,010. The company has a market capitalization of $2,620.00, a P/E ratio of 39.80, a PEG ratio of 1.09 and a beta of 1.00. Itron has a 12 month low of $57.80 and a 12 month high of $79.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, November 1st. 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). The company had revenue of $486.75 million during the quarter, compared to the consensus estimate of $526.55 million. Itron had a return on equity of 14.84% and a net margin of 3.42%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share.

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Itron during the third quarter valued at $620,000. Delta Lloyd Asset Management N.V. purchased a new position in Itron in the second quarter valued at about $4,743,000. Municipal Employees Retirement System of Michigan grew its stake in Itron by 39.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,080 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after purchasing an additional 4,870 shares during the last quarter. Laurion Capital Management LP purchased a new position in Itron in the second quarter valued at about $906,000. Finally, Shelton Capital Management purchased a new position in Itron in the second quarter valued at about $563,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

In other news, major shareholder Scopia Capital Management Lp purchased 38,925 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were purchased at an average price of $69.44 per share, for a total transaction of $2,702,952.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Deitrich sold 11,899 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.27, for a total value of $824,243.73. Following the transaction, the chief operating officer now owns 82,776 shares in the company, valued at approximately $5,733,893.52. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 671,511 shares of company stock valued at $46,471,216. Corporate insiders own 2.03% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.com-unik.info/2017/12/25/fy2018-earnings-estimate-for-itron-inc-itri-issued-by-oppenheimer.html.

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.

Earnings History and Estimates for Itron (NASDAQ:ITRI)

What are top analysts saying about Itron? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Itron and related companies.


Leave a Reply

share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit