Wall Street analysts predict that Itron, Inc. (NASDAQ:ITRI) will report sales of $606.08 million for the current quarter, according to Zacks. Six analysts have made estimates for Itron’s earnings. The lowest sales estimate is $586.00 million and the highest is $615.30 million. Itron reported sales of $486.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.5%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, November 7th.
According to Zacks, analysts expect that Itron will report full-year sales of $2.45 billion for the current fiscal year, with estimates ranging from $2.44 billion to $2.45 billion. For the next year, analysts forecast that the firm will post sales of $2.53 billion, with estimates ranging from $2.47 billion to $2.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Itron.
Itron (NASDAQ:ITRI) last released its quarterly earnings results on Monday, August 6th. The scientific and technical instruments company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $585.89 million for the quarter, compared to analyst estimates of $592.12 million. Itron had a negative net margin of 5.18% and a positive return on equity of 12.86%. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.71 EPS.
ITRI has been the topic of several analyst reports. BidaskClub lowered shares of Itron from a “sell” rating to a “strong sell” rating in a research report on Friday, July 27th. ValuEngine lowered shares of Itron from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Cowen set a $80.00 price target on shares of Itron and gave the company a “buy” rating in a research report on Monday, August 6th. Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, Guggenheim set a $73.00 price target on shares of Itron and gave the company a “buy” rating in a research report on Monday, August 6th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Itron currently has a consensus rating of “Buy” and an average target price of $80.18.
Shares of ITRI stock traded up $0.31 during trading on Wednesday, hitting $53.32. 185,972 shares of the stock traded hands, compared to its average volume of 271,841. The firm has a market cap of $2.08 billion, a PE ratio of 17.42, a PEG ratio of 0.90 and a beta of 0.86. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.18 and a current ratio of 1.51. Itron has a 52-week low of $52.80 and a 52-week high of $79.95.
In other Itron news, insider Philip Mezey sold 16,694 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $65.04, for a total value of $1,085,777.76. Following the sale, the insider now owns 93,341 shares of the company’s stock, valued at $6,070,898.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.32% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Everence Capital Management Inc. acquired a new position in shares of Itron in the third quarter worth $202,000. Bayesian Capital Management LP acquired a new position in shares of Itron in the first quarter worth $246,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Itron in the second quarter worth $271,000. Cubist Systematic Strategies LLC grew its stake in shares of Itron by 21.6% in the second quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock worth $308,000 after acquiring an additional 909 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Itron by 66.8% in the first quarter. Xact Kapitalforvaltning AB now owns 5,244 shares of the scientific and technical instruments company’s stock worth $375,000 after acquiring an additional 2,100 shares in the last quarter. 93.99% of the stock is currently owned by institutional investors.
Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.
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