Itron (ITRI) Set to Announce Earnings on Thursday

Itron (NASDAQ:ITRI) will be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.85 per share for the quarter. Itron has set its Q1 guidance at $0.80-0.90 EPS and its FY24 guidance at 3.40-3.80 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.48. The firm had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. On average, analysts expect Itron to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Itron Stock Performance

NASDAQ ITRI opened at $94.97 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. The company has a market cap of $4.35 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.06 and a beta of 1.41. The stock has a 50-day moving average of $90.13 and a two-hundred day moving average of $76.54. Itron has a 1-year low of $52.23 and a 1-year high of $97.84.

Analyst Ratings Changes

Several research firms have recently commented on ITRI. Oppenheimer raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a research note on Friday, January 19th. Roth Mkm restated a “buy” rating and issued a $102.00 price target on shares of Itron in a research note on Tuesday, April 23rd. Robert W. Baird upped their price objective on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Piper Sandler decreased their target price on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Finally, TD Cowen upped their price target on Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.60.

Insider Activity

In related news, SVP Donald L. Reeves III sold 383 shares of the business’s 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 completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction 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 owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is currently owned by insiders.

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.