Q3 2024 EPS Estimates for Itron, Inc. (NASDAQ:ITRI) Reduced by Zacks Research

Itron, Inc. (NASDAQ:ITRI) – Analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for shares of Itron in a research note issued to investors on Tuesday, May 21st. Zacks Research analyst R. Department now anticipates that the scientific and technical instruments company will earn $0.85 per share for the quarter, down from their prior estimate of $0.88. The consensus estimate for Itron’s current full-year earnings is $3.95 per share. Zacks Research also issued estimates for Itron’s Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $3.89 EPS and Q4 2025 earnings at $0.97 EPS.

Several other brokerages also recently commented on ITRI. JPMorgan Chase & Co. lifted their target price on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Piper Sandler lowered shares of Itron from an “overweight” rating to a “neutral” rating and set a $109.00 target price for the company. in a report on Tuesday. Oppenheimer raised their target price on Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Finally, Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and an average target price of $104.18.

Itron Stock Up 2.3 %

ITRI opened at $109.54 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. Itron has a 12 month low of $56.11 and a 12 month high of $110.59. The business’s 50-day moving average price is $96.73 and its 200-day moving average price is $82.50. The company has a market cap of $5.02 billion, a P/E ratio of 31.48, a P/E/G ratio of 1.05 and a beta of 1.38.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. The company had revenue of $603.44 million during 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 firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS.

Institutional Investors Weigh In On Itron

Large investors have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC purchased a new stake in shares of Itron during the 1st quarter valued at about $401,000. Norges Bank bought a new stake in Itron in the 4th quarter worth approximately $24,504,000. Assenagon Asset Management S.A. raised its stake in Itron by 517.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 246,688 shares of the scientific and technical instruments company’s stock valued at $14,944,000 after buying an additional 206,729 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in shares of Itron during the 4th quarter valued at $11,654,000. Finally, Vanguard Group Inc. grew its holdings in shares of Itron by 2.6% in the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after acquiring an additional 142,564 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Itron

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 stock was sold at an average price of $87.10, for a total value of $162,789.90. Following the sale, the chief financial officer now directly owns 76,904 shares of the company’s stock, valued at approximately $6,698,338.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction 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 directly owns 5,750 shares in the company, valued at approximately $547,687.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 1,869 shares of Itron stock in a transaction on Monday, February 26th. The stock was sold at an average price of $87.10, for a total value of $162,789.90. Following the completion of the sale, the chief financial officer now directly owns 76,904 shares of the company’s stock, valued at approximately $6,698,338.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,923 shares of company stock valued at $2,495,196. 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.