Zacks: Analysts Anticipate Iteris Inc (ITI) Will Announce Quarterly Sales of $23.95 Million

Wall Street analysts predict that Iteris Inc (NASDAQ:ITI) will announce sales of $23.95 million for the current quarter, according to Zacks. Two analysts have made estimates for Iteris’ earnings, with estimates ranging from $23.47 million to $24.42 million. Iteris reported sales of $25.27 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, June 6th.

According to Zacks, analysts expect that Iteris will report full year sales of $96.98 million for the current fiscal year, with estimates ranging from $96.50 million to $97.46 million. For the next year, analysts forecast that the company will report sales of $110.33 million, with estimates ranging from $106.92 million to $113.74 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Iteris.

Iteris (NASDAQ:ITI) last issued its earnings results on Wednesday, February 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $23.14 million during the quarter, compared to analyst estimates of $24.18 million. Iteris had a negative net margin of 7.93% and a negative return on equity of 9.92%.

Separately, Zacks Investment Research upgraded Iteris from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Tuesday, January 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Iteris has an average rating of “Buy” and a consensus target price of $6.75.

Shares of NASDAQ ITI opened at $4.14 on Friday. The firm has a market capitalization of $138.07 million, a P/E ratio of -103.50 and a beta of 0.61. Iteris has a one year low of $3.24 and a one year high of $5.99.

In other news, insider Neil S. Subin sold 2,551,273 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $4.25, for a total transaction of $10,842,910.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV acquired a new stake in Iteris during the 1st quarter worth approximately $3,307,000. Royce & Associates LP raised its holdings in shares of Iteris by 21.0% during the 4th quarter. Royce & Associates LP now owns 1,457,000 shares of the technology company’s stock worth $5,435,000 after buying an additional 253,000 shares in the last quarter. Cowen Prime Services LLC raised its holdings in shares of Iteris by 27.2% during the 4th quarter. Cowen Prime Services LLC now owns 1,161,390 shares of the technology company’s stock worth $4,332,000 after buying an additional 248,198 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Iteris by 37.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 281,085 shares of the technology company’s stock worth $1,048,000 after buying an additional 77,069 shares in the last quarter. Finally, BlackRock Inc. grew its position in Iteris by 1.2% during the 3rd quarter. BlackRock Inc. now owns 1,973,647 shares of the technology company’s stock worth $10,618,000 after acquiring an additional 23,225 shares during the last quarter. Hedge funds and other institutional investors own 33.56% of the company’s stock.

About Iteris

Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.

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Earnings History and Estimates for Iteris (NASDAQ:ITI)

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