Itron, Inc. (NASDAQ:ITRI) – Equities researchers at Gabelli issued their FY2018 earnings per share estimates for Itron in a note issued to investors on Monday, according to Zacks Investment Research. Gabelli analyst J. Garza anticipates that the scientific and technical instruments company will earn $3.10 per share for the year. Gabelli also issued estimates for Itron’s FY2019 earnings at $4.20 EPS, FY2020 earnings at $4.70 EPS and FY2021 earnings at $5.30 EPS.
ITRI has been the subject of several other research reports. BidaskClub cut Itron from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. Argus cut Itron from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. UBS Group assumed coverage on Itron in a research note on Tuesday, January 2nd. They set a “strong-buy” rating and a $84.00 target price for the company. Cowen upgraded Itron from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $84.00 in a research note on Thursday, March 1st. Finally, Canaccord Genuity restated a “hold” rating and set a $78.00 target price on shares of Itron in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $84.18.
Itron (ITRI) traded down $1.90 during mid-day trading on Wednesday, reaching $74.60. The company had a trading volume of 294,061 shares, compared to its average volume of 251,954. The stock has a market capitalization of $2,890.00, a PE ratio of 33.45, a price-to-earnings-growth ratio of 1.18 and a beta of 1.03. Itron has a 12-month low of $58.30 and a 12-month high of $79.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.29 and a current ratio of 1.67.
Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Wednesday, February 28th. The scientific and technical instruments company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. The business had revenue of $550.78 million during the quarter, compared to analysts’ expectations of $532.61 million. Itron had a return on equity of 15.84% and a net margin of 2.84%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS.
In other Itron news, VP Shannon M. Votava sold 6,661 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $71.58, for a total value of $476,794.38. Following the completion of the sale, the vice president now owns 16,459 shares in the company, valued at $1,178,135.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas S. Glanville sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $74.02, for a total value of $148,040.00. Following the completion of the sale, the director now owns 13,390 shares of the company’s stock, valued at approximately $991,127.80. The disclosure for this sale can be found here. In the last quarter, insiders acquired 119,835 shares of company stock valued at $8,222,478 and sold 16,708 shares valued at $1,187,652. 2.03% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in ITRI. Royal Bank of Canada increased its holdings in shares of Itron by 10.9% in the second quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 299 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Itron by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 26,384 shares of the scientific and technical instruments company’s stock valued at $1,788,000 after purchasing an additional 602 shares during the period. Nationwide Fund Advisors increased its holdings in shares of Itron by 1.8% in the third quarter. Nationwide Fund Advisors now owns 53,652 shares of the scientific and technical instruments company’s stock valued at $4,155,000 after purchasing an additional 939 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Itron in the third quarter valued at approximately $623,000. Finally, Chicago Equity Partners LLC increased its holdings in shares of Itron by 2.5% in the third quarter. Chicago Equity Partners LLC now owns 35,705 shares of the scientific and technical instruments company’s stock valued at $2,765,000 after purchasing an additional 855 shares during the period. 95.34% of the stock is currently owned by institutional investors and hedge funds.
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Itron Company Profile
Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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