Itron (NASDAQ:ITRI) Posts Earnings Results

Itron (NASDAQ:ITRI) released its earnings results on Thursday. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71, Briefing.com reports. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period last year, the business earned $0.98 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis.

Itron Stock Performance

Shares of ITRI opened at $111.81 on Friday. The firm has a market capitalization of $5.03 billion, a P/E ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. Itron has a one year low of $58.88 and a one year high of $116.39. The business has a fifty day moving average of $103.88 and a 200 day moving average of $102.65.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ITRI. JPMorgan Chase & Co. raised their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer upped their price target on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday. Roth Mkm raised their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,276 shares of company stock valued at $4,515,846. 1.45% of the stock is owned by company insiders.

About Itron

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.