Itron (NASDAQ:ITRI) Issues Earnings Results, Beats Estimates By $0.24 EPS

Itron (NASDAQ:ITRI - Get Free Report) issued its quarterly earnings results on Tuesday. The scientific and technical instruments company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.24, FiscalAI reports. Itron had a net margin of 12.72% and a return on equity of 20.04%. The company had revenue of $586.98 million during the quarter, compared to the consensus estimate of $572.13 million.

Itron Stock Down 1.8%

ITRI stock opened at $86.92 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.45. Itron has a twelve month low of $83.51 and a twelve month high of $142.00. The company's 50 day moving average is $92.95 and its two-hundred day moving average is $99.92. The stock has a market cap of $3.85 billion, a P/E ratio of 13.35, a PEG ratio of 0.78 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ITRI. JPMorgan Chase & Co. decreased their price target on shares of Itron from $133.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Raymond James Financial began coverage on shares of Itron in a research note on Tuesday, April 21st. They issued an "underperform" rating for the company. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a research note on Wednesday, January 14th. Zacks Research upgraded shares of Itron from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, Johnson Rice upgraded shares of Itron from an "accumulate" rating to a "buy" rating and set a $130.00 price target for the company in a research note on Monday, January 5th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $133.10.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 519 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $97.84, for a total transaction of $50,778.96. Following the sale, the senior vice president owned 29,951 shares of the company's stock, valued at approximately $2,930,405.84. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joan S. Hooper sold 3,533 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $95.92, for a total transaction of $338,885.36. Following the sale, the chief financial officer directly owned 118,275 shares in the company, valued at approximately $11,344,938. The trade was a 2.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 51,180 shares of company stock valued at $5,085,475 in the last quarter. Company insiders own 1.77% of the company's stock.

Hedge Funds Weigh In On Itron

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Itron by 25.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 81 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Itron by 29.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the scientific and technical instruments company's stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Xponance LLC boosted its position in shares of Itron by 3.2% during the 4th quarter. Xponance LLC now owns 3,877 shares of the scientific and technical instruments company's stock worth $360,000 after purchasing an additional 120 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Itron by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,718 shares of the scientific and technical instruments company's stock worth $624,000 after purchasing an additional 146 shares in the last quarter. Finally, Lido Advisors LLC boosted its position in shares of Itron by 6.2% during the 3rd quarter. Lido Advisors LLC now owns 2,518 shares of the scientific and technical instruments company's stock worth $314,000 after purchasing an additional 147 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc NASDAQ: ITRI is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company's offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron's product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.

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