Q2 2024 Earnings Estimate for Itron, Inc. Issued By Roth Capital (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Roth Capital upped their Q2 2024 earnings estimates for Itron in a research report issued on Friday, May 3rd. Roth Capital analyst C. Moore now forecasts that the scientific and technical instruments company will post earnings of $0.90 per share for the quarter, up from their prior forecast of $0.76. The consensus estimate for Itron’s current full-year earnings is $3.68 per share. Roth Capital also issued estimates for Itron’s Q3 2024 earnings at $0.80 EPS and FY2025 earnings at $4.40 EPS.

A number of other equities analysts also recently commented on ITRI. Canaccord Genuity Group raised their price objective on shares of Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm lifted their price objective on Itron from $102.00 to $112.00 and gave the company a “buy” rating in a report on Friday. Stephens increased their target price on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $109.00 price objective (up from $103.00) on shares of Itron in a report on Friday. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus price target of $104.18.

Itron Stock Performance

NASDAQ:ITRI opened at $107.37 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The firm’s 50-day moving average is $92.26 and its 200-day moving average is $77.98. Itron has a 52-week low of $56.11 and a 52-week high of $108.60. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 1.16 and a beta of 1.38.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. The business had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a return on equity of 14.51% and a net margin of 7.03%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Itron news, SVP Donald L. Reeves III sold 536 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $87.10, for a total value of $46,685.60. Following the sale, the senior vice president now owns 17,425 shares in the company, valued at approximately $1,517,717.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the firm’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 transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Insiders sold 30,467 shares of company stock worth $2,752,520 over the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Itron

A number of hedge funds and other institutional investors have recently modified their holdings of ITRI. GAMMA Investing LLC acquired a new position in shares of Itron during the 4th quarter worth about $27,000. Contravisory Investment Management Inc. grew its holdings in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the period. Covestor Ltd increased its position in Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 549 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Itron in the fourth quarter valued at approximately $50,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Itron in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Company Profile

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.