Itron, Inc. (NASDAQ:ITRI) – Research analysts at Oppenheimer decreased their Q3 2020 earnings estimates for shares of Itron in a research report issued on Friday, June 26th. Oppenheimer analyst N. Kaye now anticipates that the scientific and technical instruments company will earn $0.44 per share for the quarter, down from their previous forecast of $0.57. Oppenheimer has a “Outperform” rating and a $82.00 price objective on the stock.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, May 4th. The scientific and technical instruments company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $598.40 million during the quarter, compared to the consensus estimate of $614.83 million. Itron had a return on equity of 16.47% and a net margin of 2.40%. Itron’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share.
A number of other research analysts also recently commented on ITRI. JMP Securities reduced their price target on Itron from $95.00 to $80.00 and set a “market outperform” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity reissued a “buy” rating on shares of Itron in a report on Thursday, June 18th. ValuEngine downgraded Itron from a “hold” rating to a “sell” rating in a report on Monday, March 30th. Johnson Rice initiated coverage on Itron in a report on Tuesday, May 26th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Cowen reduced their target price on Itron from $88.50 to $78.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $80.78.
Shares of ITRI opened at $64.59 on Monday. The company has a market capitalization of $2.60 billion, a P/E ratio of 43.64, a P/E/G ratio of 1.42 and a beta of 1.34. Itron has a one year low of $40.48 and a one year high of $88.32. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.75 and a current ratio of 2.08. The stock has a 50-day moving average price of $64.60 and a 200 day moving average price of $71.63.
Several hedge funds and other institutional investors have recently made changes to their positions in ITRI. Norges Bank bought a new stake in shares of Itron in the 4th quarter worth approximately $32,984,000. Victory Capital Management Inc. increased its position in Itron by 112.3% in the 4th quarter. Victory Capital Management Inc. now owns 720,013 shares of the scientific and technical instruments company’s stock valued at $60,445,000 after acquiring an additional 380,798 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Itron in the 4th quarter valued at approximately $30,716,000. Impax Asset Management Group plc increased its position in Itron by 14.2% in the 1st quarter. Impax Asset Management Group plc now owns 2,211,024 shares of the scientific and technical instruments company’s stock valued at $123,028,000 after acquiring an additional 274,466 shares during the period. Finally, Janus Henderson Group PLC increased its position in Itron by 22.2% in the 4th quarter. Janus Henderson Group PLC now owns 1,189,386 shares of the scientific and technical instruments company’s stock valued at $99,849,000 after acquiring an additional 215,863 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Joan S. Hooper sold 504 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $62.63, for a total value of $31,565.52. Following the sale, the chief financial officer now owns 26,452 shares of the company’s stock, valued at approximately $1,656,688.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 1,845 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $61.69, for a total value of $113,818.05. Following the completion of the sale, the senior vice president now directly owns 6,805 shares in the company, valued at approximately $419,800.45. The disclosure for this sale can be found here. In the last three months, insiders sold 5,365 shares of company stock worth $355,565. Company insiders own 1.72% of the company’s stock.
Itron Company Profile
Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
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