$596.40 Million in Sales Expected for Itron, Inc. (ITRI) This Quarter

Wall Street analysts forecast that Itron, Inc. (NASDAQ:ITRI) will announce sales of $596.40 million for the current quarter, Zacks reports. Three analysts have issued estimates for Itron’s earnings. The highest sales estimate is $608.00 million and the lowest is $590.30 million. Itron reported sales of $550.78 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 27th.

On average, analysts expect that Itron will report full-year sales of $2.39 billion for the current fiscal year, with estimates ranging from $2.38 billion to $2.40 billion. For the next year, analysts forecast that the firm will report sales of $2.49 billion, with estimates ranging from $2.46 billion to $2.51 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Itron.

Itron (NASDAQ:ITRI) last announced its earnings results on Monday, November 5th. The scientific and technical instruments company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.24. The company had revenue of $595.96 million for the quarter, compared to analyst estimates of $604.98 million. Itron had a positive return on equity of 15.20% and a negative net margin of 5.19%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share.

ITRI has been the topic of a number of analyst reports. BidaskClub downgraded Itron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 25th. ValuEngine downgraded Itron from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Zacks Investment Research downgraded Itron from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. JMP Securities set a $80.00 price target on Itron and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Finally, Argus downgraded Itron from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $74.88.

NASDAQ:ITRI traded down $1.49 during trading hours on Friday, reaching $52.99. 10,486 shares of the company were exchanged, compared to its average volume of 171,113. The company has a market capitalization of $2.15 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.65 and a beta of 1.17. Itron has a 1-year low of $44.35 and a 1-year high of $77.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.41 and a quick ratio of 1.07.

In related news, major shareholder Scopia Capital Management Lp sold 76,694 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $53.64, for a total transaction of $4,113,866.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gary E. Pruitt acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were purchased at an average cost of $52.73 per share, for a total transaction of $527,300.00. Following the acquisition, the director now owns 31,305 shares in the company, valued at $1,650,712.65. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 154,884 shares of company stock worth $8,239,276. Company insiders own 2.32% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its holdings in shares of Itron by 3.5% during the 4th quarter. State of Alaska Department of Revenue now owns 11,197 shares of the scientific and technical instruments company’s stock valued at $529,000 after acquiring an additional 380 shares in the last quarter. IMS Capital Management bought a new position in Itron during the 3rd quarter worth $32,000. Cubist Systematic Strategies LLC raised its position in Itron by 21.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,125 shares of the scientific and technical instruments company’s stock worth $308,000 after purchasing an additional 909 shares during the last quarter. Ramsey Quantitative Systems raised its position in Itron by 43.4% during the 3rd quarter. Ramsey Quantitative Systems now owns 6,162 shares of the scientific and technical instruments company’s stock worth $396,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Aperio Group LLC raised its position in Itron by 6.9% during the 3rd quarter. Aperio Group LLC now owns 30,696 shares of the scientific and technical instruments company’s stock worth $1,971,000 after purchasing an additional 1,991 shares during the last quarter. 96.50% of the stock is currently owned by institutional investors.

Itron Company Profile

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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Earnings History and Estimates for Itron (NASDAQ:ITRI)

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