Oppenheimer Holdings Brokers Increase Earnings Estimates for Itron, Inc. (NASDAQ:ITRI)
Itron, Inc. (NASDAQ:ITRI) – Equities research analysts at Oppenheimer Holdings boosted their Q3 2017 earnings per share (EPS) estimates for Itron in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst N. Kaye now forecasts that the scientific and technical instruments company will post earnings per share of $0.96 for the quarter, up from their previous forecast of $0.85. Oppenheimer Holdings currently has a “Outperform” rating and a $78.00 target price on the stock. Oppenheimer Holdings also issued estimates for Itron’s Q4 2017 earnings at $0.99 EPS and FY2019 earnings at $4.51 EPS.
Several other equities analysts have also recently weighed in on ITRI. BidaskClub cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price objective (up from $74.00) on shares of Itron in a research report on Thursday, August 3rd. Cowen and Company set a $74.00 price objective on shares of Itron and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Itron from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Robert W. Baird cut shares of Itron from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $77.00 in a research report on Wednesday, July 26th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Itron has a consensus rating of “Buy” and an average price target of $79.00.
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Itron (NASDAQ:ITRI) opened at 73.05 on Monday. Itron has a 52 week low of $40.53 and a 52 week high of $75.60. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 90.41 and a beta of 1.10. The firm’s 50 day moving average price is $70.53 and its 200-day moving average price is $65.22.
Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Itron had a return on equity of 15.43% and a net margin of 1.60%. The company had revenue of $503.10 million for the quarter, compared to analyst estimates of $491.80 million. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year.
Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in shares of Itron by 36.1% in the first quarter. Russell Investments Group Ltd. now owns 45,846 shares of the scientific and technical instruments company’s stock worth $2,782,000 after buying an additional 12,157 shares during the period. Dubuque Bank & Trust Co. bought a new stake in shares of Itron during the first quarter worth about $262,000. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Itron during the first quarter worth about $13,157,000. Nationwide Fund Advisors raised its stake in shares of Itron by 41.9% in the first quarter. Nationwide Fund Advisors now owns 43,596 shares of the scientific and technical instruments company’s stock worth $2,646,000 after buying an additional 12,863 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock worth $223,000 after buying an additional 80 shares during the period. 94.63% of the stock is owned by institutional investors.
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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