Q2 2024 EPS Estimates for Itron, Inc. Lifted by Analyst (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Stock analysts at Zacks Research increased their Q2 2024 earnings per share estimates for shares of Itron in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst R. Department now forecasts that the scientific and technical instruments company will post earnings of $0.90 per share for the quarter, up from their prior estimate of $0.81. The consensus estimate for Itron’s current full-year earnings is $3.90 per share. Zacks Research also issued estimates for Itron’s Q1 2025 earnings at $0.99 EPS, Q2 2025 earnings at $0.96 EPS, FY2025 earnings at $3.94 EPS, Q1 2026 earnings at $1.13 EPS and FY2026 earnings at $4.69 EPS.

ITRI has been the topic of several other research reports. TheStreet raised Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Stephens upped their price objective on Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Robert W. Baird raised their target price on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, Roth Mkm raised their price objective on shares of Itron from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $104.18.

Itron Trading Down 2.4 %

Shares of NASDAQ:ITRI opened at $107.04 on Wednesday. The company has a 50 day moving average of $95.51 and a 200-day moving average of $81.83. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The firm has a market cap of $4.91 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.08 and a beta of 1.38. Itron has a twelve month low of $56.11 and a twelve month high of $109.97.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITRI. Vanguard Group Inc. increased its position in Itron by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after purchasing an additional 142,564 shares during the last quarter. Raymond James & Associates increased its holdings in Itron by 51.6% in the fourth quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock worth $3,596,000 after buying an additional 16,208 shares during the last quarter. Trexquant Investment LP raised its position in Itron by 48.8% during the third quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock valued at $3,479,000 after acquiring an additional 18,842 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Itron in the fourth quarter valued at approximately $210,000. Finally, BNP Paribas Financial Markets grew its position in Itron by 12.0% in the fourth quarter. BNP Paribas Financial Markets now owns 153,996 shares of the scientific and technical instruments company’s stock worth $11,628,000 after acquiring an additional 16,509 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Joan S. Hooper sold 1,869 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $162,789.90. Following the sale, the chief financial officer now owns 76,904 shares in the company, valued at $6,698,338.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Itron news, SVP Donald L. Reeves III sold 536 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $46,685.60. Following the completion of the sale, the senior vice president now directly owns 17,425 shares in the company, valued at approximately $1,517,717.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 1,869 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $87.10, for a total value of $162,789.90. Following the completion of the transaction, the chief financial officer now owns 76,904 shares in the company, valued at approximately $6,698,338.40. The disclosure for this sale can be found here. Insiders sold a total of 26,923 shares of company stock worth $2,495,196 over the last ninety days. 1.45% of the stock is currently owned by company 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.