Itron (ITRI) to Release Earnings on Thursday

Itron (NASDAQ:ITRI) is scheduled to be announcing its earnings results 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.Parties that wish to register for the company’s conference call can do so using this link.

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

Itron Price Performance

Shares of NASDAQ ITRI opened at $94.97 on Tuesday. Itron has a 1 year low of $52.23 and a 1 year high of $97.84. The stock has a market capitalization 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 company’s 50-day moving average is $90.13 and its 200 day moving average is $76.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43.

Insider Transactions at Itron

In related news, CFO Joan S. Hooper sold 1,560 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $117,577.20. Following the sale, the chief financial officer now directly owns 60,141 shares of the company’s stock, valued at $4,532,827.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 383 shares of Itron 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 completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,467 shares of company stock worth $2,752,520. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITRI. Robert W. Baird upped their target price on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Oppenheimer raised Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price objective for the company in a research report on Friday, January 19th. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Piper Sandler lowered their price target on shares of Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Finally, Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average target price of $97.60.

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.