Itron (NASDAQ:ITRI) Issues FY 2024 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.280-5.380 for the period, compared to the consensus estimate of 4.570. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Itron also updated its Q4 guidance to $1.00-1.10 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ITRI shares. Janney Montgomery Scott assumed coverage on shares of Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. TD Cowen increased their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm lifted their price objective on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer boosted their target price on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Itron has a consensus rating of “Moderate Buy” and an average price target of $123.50.

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $0.05 during trading 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 debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. The stock’s fifty day moving average price is $103.88 and its 200 day moving average price is $102.65. Itron has a fifty-two week low of $58.88 and a fifty-two week high of $116.39. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46.

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

Insider Activity

In related news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock valued at $4,515,846 in the last three months. 1.45% of the stock is currently owned by company insiders.

Itron Company Profile

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.