Brokerages Anticipate Itron, Inc. (ITRI) Will Announce Quarterly Sales of $619.18 Million

Equities research analysts predict that Itron, Inc. (NASDAQ:ITRI) will announce sales of $619.18 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Itron’s earnings, with estimates ranging from $590.30 million to $687.50 million. Itron posted sales of $550.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.4%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 27th.

On average, analysts expect that Itron will report full-year sales of $2.39 billion for the current financial year, with estimates ranging from $2.38 billion to $2.40 billion. For the next year, analysts forecast that the business will report sales of $2.51 billion, with estimates ranging from $2.46 billion to $2.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Itron.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, November 5th. The scientific and technical instruments company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.89 by $0.24. Itron had a positive return on equity of 15.20% and a negative net margin of 5.19%. The company had revenue of $595.96 million during the quarter, compared to the consensus estimate of $604.98 million. During the same period last year, the company earned $0.77 EPS. Itron’s revenue for the quarter was up 22.4% on a year-over-year basis.

Several research analysts have issued reports on the company. Zacks Investment Research reissued a “hold” rating on shares of Itron in a research report on Tuesday, November 13th. Guggenheim assumed coverage on Itron in a research report on Monday, December 3rd. They issued a “buy” rating and a $70.00 target price on the stock. JMP Securities set a $80.00 target price on Itron and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Argus raised Itron from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, August 22nd. Finally, Cowen reissued a “buy” rating and issued a $80.00 target price on shares of Itron in a research report on Friday, November 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $76.70.

In related news, Director Gary E. Pruitt acquired 10,000 shares of the stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average cost of $52.73 per share, with a total value of $527,300.00. Following the transaction, the director now directly owns 31,305 shares in the company, valued at $1,650,712.65. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Scopia Capital Management Lp sold 4,153 shares of Itron stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $56.07, for a total value of $232,858.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,234 shares of company stock worth $8,260,258. Insiders own 2.03% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Itron by 8.2% in the 2nd quarter. BlackRock Inc. now owns 5,056,574 shares of the scientific and technical instruments company’s stock worth $303,648,000 after purchasing an additional 384,272 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Itron by 1,517,410.0% in the 3rd quarter. Clearbridge Investments LLC now owns 303,502 shares of the scientific and technical instruments company’s stock worth $19,485,000 after purchasing an additional 303,482 shares in the last quarter. Scopia Capital Management LP lifted its holdings in Itron by 5.0% in the 2nd quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock worth $329,368,000 after purchasing an additional 262,749 shares in the last quarter. First Trust Advisors LP lifted its holdings in Itron by 52.1% in the 2nd quarter. First Trust Advisors LP now owns 575,715 shares of the scientific and technical instruments company’s stock worth $34,572,000 after purchasing an additional 197,199 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Itron by 3,996.2% in the 2nd quarter. Raymond James & Associates now owns 193,176 shares of the scientific and technical instruments company’s stock worth $11,600,000 after purchasing an additional 188,460 shares in the last quarter. 96.44% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:ITRI traded down $1.18 on Tuesday, hitting $51.99. The stock had a trading volume of 237,721 shares, compared to its average volume of 217,765. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.85 and a beta of 1.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.07 and a current ratio of 1.41. Itron has a 52-week low of $49.59 and a 52-week high of $77.40.

Itron Company Profile

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

See Also: Ex-Dividend

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