Itron (NASDAQ:ITRI) Issues Q4 2024 Earnings Guidance

Itron (NASDAQ:ITRI) updated its fourth quarter 2024 earnings guidance on Thursday. 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.

Analyst Ratings Changes

Several research analysts have weighed in on ITRI shares. Janney Montgomery Scott started coverage on shares of Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Itron in a report on Monday, August 5th. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Thursday, July 11th. Roth Mkm increased their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, BNP Paribas initiated coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

Itron Price Performance

Itron stock traded up $0.05 during midday trading on Friday, reaching $111.81. The company’s stock had a trading volume of 963,729 shares, compared to its average volume of 495,505. Itron has a fifty-two week low of $58.88 and a fifty-two week 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’s 50 day simple moving average is $103.88 and its 200 day simple moving average is $102.65. The firm has a market capitalization of $5.03 billion, a PE ratio of 22.91, a P/E/G ratio of 0.94 and a beta of 1.46.

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

Insider Activity at Itron

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