Q2 2024 EPS Estimates for Itron, Inc. (NASDAQ:ITRI) Boosted by Roth Capital

Itron, Inc. (NASDAQ:ITRI) – Analysts at Roth Capital increased their Q2 2024 earnings per share estimates for Itron in a research note issued on Friday, May 3rd. Roth Capital analyst C. Moore now forecasts that the scientific and technical instruments company will post earnings of $0.90 per share for the quarter, up from their prior estimate of $0.76. The consensus estimate for Itron’s current full-year earnings is $3.68 per share. Roth Capital also issued estimates for Itron’s Q3 2024 earnings at $0.80 EPS and FY2025 earnings at $4.40 EPS.

Other research analysts have also recently issued research reports about the company. Robert W. Baird boosted their price objective on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Stephens boosted their price objective on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday. Roth Mkm boosted their price objective on Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. boosted their price target on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and an average price target of $104.18.

Itron Price Performance

ITRI stock opened at $108.25 on Monday. The stock has a 50-day moving average price of $92.61 and a two-hundred day moving average price of $78.34. Itron has a 12-month low of $56.11 and a 12-month high of $109.72. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company has a market cap of $4.97 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38.

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

Institutional Investors Weigh In On Itron

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Itron during the 3rd quarter valued at $239,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Itron by 1.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock valued at $1,184,000 after purchasing an additional 236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Itron by 453.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock valued at $6,958,000 after purchasing an additional 94,085 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Itron by 313.4% in the third quarter. Mackenzie Financial Corp now owns 11,595 shares of the scientific and technical instruments company’s stock valued at $677,000 after purchasing an additional 8,790 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Itron by 9.6% in the third quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock valued at $344,000 after purchasing an additional 498 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Itron

In other news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction that occurred on 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 directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas Deitrich sold 1,912 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company’s stock, valued at $12,743,032.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock worth $2,752,520 over the last quarter. 1.45% of the stock is owned by corporate insiders.

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.