Seaport Res Ptn Equities Analysts Reduce Earnings Estimates for Itron, Inc. (NASDAQ:ITRI)

Itron, Inc. (NASDAQ:ITRI - Free Report) - Seaport Res Ptn lowered their Q2 2024 EPS estimates for shares of Itron in a research note issued on Wednesday, April 10th. Seaport Res Ptn analyst S. Graham now expects that the scientific and technical instruments company will earn $0.80 per share for the quarter, down from their prior estimate of $0.84. The consensus estimate for Itron's current full-year earnings is $3.61 per share. Seaport Res Ptn also issued estimates for Itron's Q3 2024 earnings at $0.99 EPS, Q1 2025 earnings at $1.00 EPS, Q2 2025 earnings at $0.96 EPS and Q3 2025 earnings at $1.18 EPS.

A number of other brokerages have also issued reports on ITRI. Piper Sandler cut their target price on Itron from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday. Canaccord Genuity Group upgraded shares of Itron from a "hold" rating to a "buy" rating and boosted their price target for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Robert W. Baird lifted their target price on Itron from $108.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, March 13th. Oppenheimer upgraded shares of Itron from a "market perform" rating to an "outperform" rating and set a $81.00 price objective for the company in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Itron from $77.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.60.

Itron Trading Down 0.8 %

ITRI traded down $0.76 on Friday, hitting $91.44. The company had a trading volume of 392,426 shares, compared to its average volume of 407,979. The company's fifty day moving average price is $86.27 and its 200 day moving average price is $73.73. Itron has a 1 year low of $50.60 and a 1 year high of $96.73. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.19 billion, a P/E ratio of 43.54, a PEG ratio of 1.00 and a beta of 1.41.

Itron (NASDAQ:ITRI - Get Free Report) last posted its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.48. Itron had a net margin of 4.46% and a return on equity of 12.27%. The company had revenue of $577.17 million for the quarter, compared to analyst estimates of $569.90 million. During the same period in the previous year, the business posted $0.71 EPS. Itron's revenue was up 23.5% on a year-over-year basis.

Insider Transactions at Itron

In other Itron news, SVP Donald L. Reeves III sold 383 shares of Itron 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 $28,866.71. Following the transaction, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction dated 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 directly owns 8,708 shares of the company's stock, valued at $656,321.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 502 shares of the firm's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $91.02, for a total transaction of $45,692.04. Following the completion of the sale, the senior vice president now owns 16,427 shares of the company's stock, valued at approximately $1,495,185.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Itron during the 4th quarter worth $27,000. State of Wyoming purchased a new stake in Itron during the fourth quarter worth about $29,000. Quarry LP grew its position in Itron by 240.5% during the second quarter. Quarry LP now owns 429 shares of the scientific and technical instruments company's stock worth $31,000 after buying an additional 303 shares during the period. Contravisory Investment Management Inc. increased its holdings in Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company's stock valued at $32,000 after buying an additional 131 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company's stock valued at $34,000 after buying an additional 549 shares in the last quarter. Institutional investors and hedge funds own 96.19% 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.