Iteris Inc (ITI) Expected to Announce Quarterly Sales of $26.43 Million
Equities research analysts predict that Iteris Inc (NYSE:ITI) will report sales of $26.43 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Iteris’ earnings. The lowest sales estimate is $26.25 million and the highest is $26.60 million. Iteris posted sales of $24.06 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The business is scheduled to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that Iteris will report full-year sales of $26.43 million for the current year, with estimates ranging from $103.64 million to $104.56 million. For the next year, analysts expect that the company will report sales of $116.68 million per share, with estimates ranging from $114.00 million to $119.35 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Iteris.
Iteris (NYSE:ITI) last announced its quarterly earnings results on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. The firm had revenue of $27.18 million for the quarter, compared to the consensus estimate of $26.31 million.
A number of equities research analysts have issued reports on ITI shares. B. Riley restated a “buy” rating and set a $9.00 price target on shares of Iteris in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Iteris from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research note on Saturday, September 9th. Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Dougherty & Co initiated coverage on Iteris in a research note on Tuesday, July 18th. They set a “buy” rating and a $8.00 price objective for the company.
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In related news, insider Thomas N. Blair sold 43,750 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $5.99, for a total transaction of $262,062.50. Following the completion of the transaction, the insider now directly owns 25,000 shares in the company, valued at approximately $149,750. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Todd Kreter sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $6.19, for a total value of $247,600.00. Following the transaction, the insider now owns 43,303 shares of the company’s stock, valued at $268,045.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,846 shares of company stock valued at $612,239.
Large investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of Iteris during the 2nd quarter valued at approximately $396,000. Essex Investment Management Co. LLC bought a new position in shares of Iteris during the 2nd quarter valued at approximately $724,000. Trexquant Investment LP bought a new position in shares of Iteris during the 2nd quarter valued at approximately $205,000. CAPROCK Group Inc. bought a new position in shares of Iteris during the 2nd quarter valued at approximately $227,000. Finally, Spark Investment Management LLC grew its stake in shares of Iteris by 191.3% during the 2nd quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock valued at $186,000 after acquiring an additional 19,700 shares during the period.
Shares of Iteris (NYSE:ITI) opened at 6.29 on Thursday. The stock’s market capitalization is $204.84 million. Iteris has a one year low of $3.20 and a one year high of $6.91. The stock has a 50 day moving average of $6.22 and a 200-day moving average of $5.78.
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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