Itron (NASDAQ:ITRI) Releases Earnings Results, Beats Estimates By $0.38 EPS

Key Points

• Itron reported quarterly EPS of $1.94, beating analysts’ $1.56 consensus estimate by $0.38. Revenue increased 3.0% year over year, while net margin was 11.90% and return on equity was 19.26%.
• Itron shares opened at $87.73, with a market capitalization of approximately $3.84 billion. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $131.33.
• Company insiders sold 17,903 shares worth approximately $1.75 million during the last quarter; the disclosed transactions were conducted to cover tax obligations or under a pre-arranged trading plan.

Itron (NASDAQ:ITRI - Get Free Report) announced its earnings results on Tuesday. The scientific and technical instruments company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.38, Briefing.com reports. Itron had a net margin of 11.90% and a return on equity of 19.26%. During the same period in the previous year, the business posted $1.54 EPS. The firm's quarterly revenue was up 3.0% on a year-over-year basis.

Itron Stock Up 0.1%

Shares of Itron stock opened at $87.73 on Tuesday. The company has a market cap of $3.84 billion, a P/E ratio of 14.65, a PEG ratio of 1.05 and a beta of 1.32. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.29 and a current ratio of 2.75. Itron has a one year low of $77.77 and a one year high of $142.00. The firm has a fifty day moving average of $91.38 and a two-hundred day moving average of $91.12.

Insider Activity

In other news, SVP John F. Marcolini sold 331 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $98.79, for a total transaction of $32,699.49. Following the transaction, the senior vice president directly owned 12,683 shares in the company, valued at $1,252,953.57. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Justin Patrick sold 10,210 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $97.36, for a total transaction of $994,045.60. Following the transaction, the senior vice president directly owned 22,065 shares of the company's stock, valued at $2,148,248.40. This represents a 31.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,903 shares of company stock worth $1,753,521 over the last quarter. Insiders own 1.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ITRI. Seaport Research Partners restated a "buy" rating and issued a $150.00 price objective on shares of Itron in a research note on Wednesday, July 29th. Robert W. Baird set a $125.00 target price on shares of Itron in a research note on Wednesday, July 29th. Weiss Ratings raised Itron from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, October 12th. Zacks Research lowered Itron from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Finally, Needham & Company LLC boosted their price target on Itron from $116.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and an average target price of $131.33.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company's portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.

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