Itron (NASDAQ:ITRI) Issues FY19 Earnings Guidance

Itron (NASDAQ:ITRI) updated its FY19 earnings guidance on Monday. 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 $2.45-2.50 billion, compared to the consensus revenue estimate of $2.44 billion.Itron also updated its FY 2019 guidance to $2.80-3.00 EPS.

A number of research firms have recently weighed in on ITRI. Oppenheimer boosted their target price on Itron from $60.00 to $68.00 and gave the stock an outperform rating in a research report on Tuesday, May 7th. 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 boosted their target price on Itron from $68.00 to $75.00 and gave the stock an outperform rating in a research report on Monday, July 1st. Finally, Stephens began coverage on Itron in a research report on Monday, July 8th. They set an equal weight rating and a $64.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $68.70.

Shares of ITRI stock traded up $9.90 on Tuesday, reaching $67.86. 966,900 shares of the stock were exchanged, compared to its average volume of 318,881. The firm’s 50 day moving average price is $61.63. The company has a market capitalization of $2.28 billion, a PE ratio of 25.61, a PEG ratio of 0.91 and a beta of 1.20. The company has a current ratio of 1.40, a quick ratio of 1.07 and a debt-to-equity ratio of 1.43. Itron has a one year low of $44.35 and a one year high of $67.91.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, August 5th. The scientific and technical instruments company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.39. The business had revenue of $635.04 million during the quarter, compared to the consensus estimate of $598.59 million. Itron had a return on equity of 17.97% and a net margin of 1.87%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, analysts anticipate that Itron will post 2.63 earnings per share for the current year.

In related news, major shareholder Scopia Capital Management Lp sold 55,086 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $57.45, for a total value of $3,164,690.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip Mezey sold 31,414 shares of the company’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 owns 74,624 shares of the company’s stock, valued at approximately $4,699,819.52. The disclosure for this sale can be found here. Insiders sold 135,593 shares of company stock valued at $7,960,442 in the last quarter. 2.35% of the stock is currently owned by corporate insiders.

Itron Company Profile

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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