Itron (NASDAQ:ITRI) Issues Q2 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.90-1.00 for the period, compared to the consensus estimate of $0.85. The company issued revenue guidance of $595-605 million, compared to the consensus revenue estimate of $583.61 million.

Analyst Upgrades and Downgrades

ITRI has been the subject of several analyst reports. Canaccord Genuity Group raised shares of Itron from a hold rating to a buy rating and raised their target price for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Robert W. Baird lifted their price objective on shares of Itron from $108.00 to $115.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Itron from $77.00 to $92.00 and gave the company a neutral rating in a report on Wednesday, March 13th. Canaccord Genuity Group lifted their price target on Itron from $105.00 to $115.00 and gave the stock a buy rating in a report on Friday. Finally, TD Cowen boosted their price target on Itron from $110.00 to $115.00 and gave the stock a buy rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Itron presently has an average rating of Moderate Buy and an average target price of $103.60.

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $7.19 during trading on Friday, reaching $107.01. 1,235,838 shares of the stock were exchanged, compared to its average volume of 473,020. Itron has a 12 month low of $56.11 and a 12 month high of $107.11. The stock has a 50-day moving average price of $91.94 and a 200-day moving average price of $77.51. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.91 billion, a PE ratio of 30.75, a PEG ratio of 1.19 and a beta of 1.38.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The business had revenue of $603.44 million during the quarter, compared to the consensus estimate of $579.49 million. During the same period in the previous year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. Research analysts expect that Itron will post 3.68 EPS for the current fiscal year.

Insider Activity at Itron

In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the sale, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the transaction, the director now directly owns 5,750 shares in the company, valued at approximately $547,687.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the sale, the senior vice president now owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,467 shares of company stock worth $2,752,520. Corporate insiders own 1.45% of the company’s stock.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.