Q3 2024 EPS Estimates for Itron, Inc. Lifted by Analyst (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI) – Research analysts at Roth Capital raised their Q3 2024 earnings per share estimates for Itron in a note issued to investors on Tuesday, July 16th. Roth Capital analyst C. Moore now expects that the scientific and technical instruments company will earn $0.87 per share for the quarter, up from their previous estimate of $0.80. The consensus estimate for Itron’s current full-year earnings is $4.09 per share. Roth Capital also issued estimates for Itron’s Q4 2024 earnings at $0.93 EPS.

Other research analysts have also recently issued research reports about the company. Oppenheimer raised their price target on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday. Roth Mkm upped their price target on shares of Itron from $112.00 to $122.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group raised their price target on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

Itron Stock Performance

ITRI opened at $102.94 on Thursday. Itron has a 1-year low of $56.11 and a 1-year high of $111.00. The stock has a market cap of $4.72 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.01 and a beta of 1.45. The stock’s 50 day simple moving average is $104.53 and its 200 day simple moving average is $91.60. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft acquired a new position in Itron in the second quarter worth $252,000. Sequoia Financial Advisors LLC lifted its stake in Itron by 73.6% in the second quarter. Sequoia Financial Advisors LLC now owns 23,042 shares of the scientific and technical instruments company’s stock valued at $2,280,000 after buying an additional 9,772 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. CWM LLC increased its holdings in shares of Itron by 315.6% in the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after acquiring an additional 669 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Itron by 46.6% during the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $71,000 after buying an additional 229 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Itron

In related news, CEO Thomas Deitrich sold 873 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the sale, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Itron news, CFO Joan S. Hooper sold 501 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $54,543.87. Following the completion of the transaction, the chief financial officer now directly owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas Deitrich sold 873 shares of Itron stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now directly owns 206,163 shares in the company, valued at $22,444,965.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,775 shares of company stock valued at $192,613. Company insiders own 1.45% of the company’s stock.

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.