Itron (NASDAQ:ITRI) Updates Q4 2024 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.000-1.100 for the period, compared to the consensus estimate of 1.010. The company issued revenue guidance of $600.0 million-$610.0 million, compared to the consensus revenue estimate of $596.5 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Itron Price Performance

Shares of ITRI stock traded up $0.05 during trading hours on Friday, reaching $111.81. The company had a trading volume of 963,729 shares, compared to its average volume of 495,505. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 0.94 and a beta of 1.46. Itron has a 12-month low of $58.88 and a 12-month high of $116.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.61 and a current ratio of 3.36. The stock has a fifty day moving average of $103.88 and a 200-day moving average of $102.65.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same period in the prior year, the business earned $0.98 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Itron will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

ITRI has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, July 11th. Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Piper Sandler lifted their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday. Finally, Stephens reaffirmed an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.50.

Insider Transactions at Itron

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

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.