Itron (NASDAQ:ITRI) Issues Q2 Earnings Guidance

Itron (NASDAQ:ITRI) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.90-1.00 for the period, compared to the consensus EPS estimate of $0.85. The company issued revenue guidance of $595-605 million, compared to the consensus revenue estimate of $583.61 million.

Analyst Ratings Changes

A number of analysts recently commented on the company. Roth Mkm reaffirmed a buy rating and set a $102.00 price target on shares of Itron in a research report on Tuesday, April 23rd. Robert W. Baird raised their price target on Itron from $108.00 to $115.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. TD Cowen lifted their price objective on Itron from $107.00 to $110.00 and gave the stock an outperform rating in a report on Wednesday, March 13th. TheStreet raised Itron from a c rating to a b- rating in a research note on Monday, February 26th. Finally, Oppenheimer raised Itron from a market perform rating to an outperform rating and set a $81.00 price target on the stock in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Itron presently has a consensus rating of Moderate Buy and a consensus price target of $97.60.

Itron Stock Performance

Shares of NASDAQ ITRI traded up $7.80 during midday trading on Thursday, hitting $99.34. 282,114 shares of the stock traded hands, compared to its average volume of 412,287. Itron has a one year low of $53.49 and a one year high of $100.95. The firm has a 50-day moving average of $90.81 and a two-hundred day moving average of $76.89. The firm has a market capitalization of $4.55 billion, a P/E ratio of 46.00, a PEG ratio of 1.02 and a beta of 1.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. During the same period last year, the firm earned $0.71 EPS. Itron’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities analysts forecast that Itron will post 3.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 383 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the transaction, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Itron news, Director Jerome J. Lande sold 14,896 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $28,866.71. Following the sale, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. 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.