Itron (NASDAQ:ITRI) Issues FY 2019 Earnings Guidance

Itron (NASDAQ:ITRI) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided EPS guidance of $2.80-3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.63. The company issued revenue guidance of $2.45-2.5 billion, compared to the consensus revenue estimate of $2.44 billion.Itron also updated its FY19 guidance to $2.80-3.00 EPS.

ITRI stock traded down $1.91 during trading hours on Monday, hitting $57.96. 250,600 shares of the stock were exchanged, compared to its average volume of 314,523. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.40 and a quick ratio of 1.07. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 0.91 and a beta of 1.20. The firm has a 50-day moving average price of $61.49. Itron has a 12 month low of $44.35 and a 12 month high of $66.95.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.39. Itron had a return on equity of 17.97% and a net margin of 1.87%. The company had revenue of $635.04 million for the quarter, compared to analysts’ expectations of $598.59 million. During the same quarter last year, the business earned $0.51 earnings per share. Itron’s revenue was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Itron will post 2.63 EPS for the current year.

A number of brokerages recently commented on ITRI. BidaskClub upgraded Itron from a hold rating to a buy rating in a research report on Friday. ValuEngine upgraded Itron from a sell rating to a hold rating in a research report on Wednesday, May 8th. Citigroup raised their price target on Itron from $68.00 to $75.00 and gave the stock an outperform rating in a research report on Monday, July 1st. Stephens began coverage on Itron in a research report on Monday, July 8th. They issued an equal weight rating and a $64.00 price target on the stock. Finally, Zacks Investment Research upgraded Itron from a hold rating to a buy rating and set a $67.00 price target on the stock in a research report on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $68.70.

In related news, major shareholder Scopia Capital Management Lp sold 66,810 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $54.21, for a total value of $3,621,770.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Philip Mezey sold 31,414 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $62.98, for a total value of $1,978,453.72. Following the completion of the sale, the insider now directly owns 74,624 shares in the company, valued at $4,699,819.52. The disclosure for this sale can be found here. Insiders sold 233,608 shares of company stock worth $13,425,492 over the last ninety days. 2.35% of the stock is currently owned by insiders.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Earnings History and Estimates for Itron (NASDAQ:ITRI)

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