Itron (NASDAQ:ITRI) Announces Quarterly Earnings Results

Itron (NASDAQ:ITRI) released its quarterly earnings results on Thursday. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39, Briefing.com reports. The firm had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. Itron updated its Q2 guidance to $0.90-1.00 EPS.

Itron Trading Up 7.2 %

Shares of NASDAQ:ITRI traded up $7.19 during trading on Friday, reaching $107.01. 1,235,838 shares of the company traded hands, compared to its average volume of 473,020. The company has a current ratio of 1.90, a quick ratio of 1.43 and a debt-to-equity ratio of 0.33. Itron has a 52-week low of $56.11 and a 52-week high of $107.11. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.11 and a beta of 1.38. The business’s fifty day moving average is $91.94 and its 200-day moving average is $77.39.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TD Cowen boosted their price objective on Itron from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer boosted their price target on shares of Itron from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler restated an “overweight” rating and set a $109.00 price objective (up previously from $103.00) on shares of Itron in a research report on Friday. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a research report on Monday, February 26th. Finally, Robert W. Baird increased their target price on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.60.

Insider Buying and Selling

In other Itron news, CFO Joan S. Hooper sold 1,560 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Itron news, SVP Donald L. Reeves III sold 383 shares of the firm’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 transaction of $28,866.71. Following the completion of the transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joan S. Hooper sold 1,560 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 value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The disclosure for this sale can be found here. Insiders have sold a total of 30,467 shares of company stock valued at $2,752,520 over the last three months. 1.45% of the stock is owned by company 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.