Itron (NASDAQ:ITRI) Announces Earnings Results

Itron (NASDAQ:ITRI) released its earnings results on Tuesday. The scientific and technical instruments company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.38, Briefing.com reports. Itron had a return on equity of 19.26% and a net margin of 11.90%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share.

Itron Stock Up 0.1%

Itron stock opened at $87.73 on Tuesday. Itron has a fifty-two week low of $77.77 and a fifty-two week high of $142.00. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32. The stock’s fifty day moving average is $91.38 and its two-hundred day moving average is $91.12. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.29 and a current ratio of 2.75.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Itron from $116.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Zacks Research downgraded shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings upgraded shares of Itron from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, October 12th. Seaport Research Partners restated a “buy” rating and set a $150.00 target price on shares of Itron in a research report on Wednesday, July 29th. Finally, Robert W. Baird set a $125.00 target price on shares of Itron in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.33.

Insider Transactions at Itron

In other news, CFO Joan Hooper sold 4,406 shares of Itron stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $98.86, for a total transaction of $435,577.16. Following the completion of the transaction, the chief financial officer owned 117,113 shares of the company’s stock, valued at $11,577,791.18. The trade was a 3.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald Reeves, III sold 329 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $98.79, for a total transaction of $32,501.91. Following the completion of the sale, the senior vice president owned 27,945 shares in the company, valued at $2,760,686.55. This represents a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 17,903 shares of company stock worth $1,753,521. Corporate insiders own 1.77% of the company’s stock.

Itron Company Profile

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.