Itron, Inc. (ITRI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Itron, Inc. (NASDAQ:ITRI) from a hold rating to a sell rating in a research note released on Monday, November 6th.

According to Zacks, “Itron’s top and bottom lines missed the Zacks Consensus Estimate in third-quarter 2017. Earnings remained flat, however sales were down on a year-over-year basis. Itron anticipates 2017 adjusted earnings per share to be at or above the lower-end of the previous guidance range of $2.95-$3.15. It also estimates revenues to be at or modestly below the lower-end of the prior projection of $2.03-$2.06 billion. The company’s revenue outlook will be affected by the impact of market-driven delays in its water projects. Further, elevated expenses due to its restructuring efforts will mar results. Fluctuation in currency rates as well as increased competition in the advanced metering infrastructure (AMI) space will adversely affect its performance. The company’s shares also underperformed the industry over the past year.”

Other equities analysts have also recently issued reports about the company. BidaskClub raised Itron from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Robert W. Baird reissued an outperform rating and set a $73.00 price target on shares of Itron in a report on Thursday, July 13th. Canaccord Genuity restated a buy rating and issued a $78.00 price objective on shares of Itron in a research note on Friday, July 14th. JMP Securities set a $88.00 price objective on Itron and gave the stock a buy rating in a research note on Tuesday, July 18th. Finally, Cowen Inc set a $60.00 price target on Itron and gave the stock a hold rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Itron presently has a consensus rating of Buy and an average price target of $81.78.

Shares of Itron (NASDAQ:ITRI) opened at $66.00 on Monday. Itron has a 52 week low of $57.80 and a 52 week high of $79.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. The stock has a market capitalization of $2,555.85, a PE ratio of 24.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.12). The business had revenue of $486.75 million for the quarter, compared to analysts’ expectations of $526.55 million. Itron had a net margin of 3.42% and a return on equity of 14.84%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. sell-side analysts forecast that Itron will post 2.99 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Delta Lloyd Asset Management N.V. bought a new stake in shares of Itron during the second quarter valued at approximately $4,743,000. Credit Suisse AG raised its stake in shares of Itron by 25.0% during the first quarter. Credit Suisse AG now owns 106,811 shares of the scientific and technical instruments company’s stock valued at $6,483,000 after acquiring an additional 21,368 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Itron during the second quarter valued at approximately $906,000. Shelton Capital Management bought a new stake in shares of Itron during the second quarter valued at approximately $563,000. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Itron by 39.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 17,080 shares of the scientific and technical instruments company’s stock valued at $1,323,000 after buying an additional 4,870 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

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Itron Company Profile

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.

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