Wall Street analysts expect Iteris Inc (NASDAQ:ITI) to report earnings per share (EPS) of ($0.03) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Iteris’ earnings. Iteris reported earnings of ($0.04) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The business is scheduled to report its next earnings report on Thursday, June 14th.
On average, analysts expect that Iteris will report full-year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.08) to ($0.04). For the next fiscal year, analysts expect that the business will post earnings of ($0.06) per share, with EPS estimates ranging from ($0.12) to ($0.03). Zacks’ EPS averages are an average based on a survey of analysts that cover Iteris.
Iteris (NASDAQ:ITI) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Iteris had a negative return on equity of 10.05% and a negative net margin of 4.32%. The firm had revenue of $26.03 million during the quarter, compared to the consensus estimate of $23.28 million.
ITI has been the subject of a number of recent research reports. Zacks Investment Research downgraded Iteris from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. B. Riley set a $9.00 price target on Iteris and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, JMP Securities started coverage on Iteris in a research report on Thursday, January 25th. They set an “outperform” rating and a $10.50 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $8.75.
In other news, major shareholder Neil S. Subin sold 113,523 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $6.07, for a total value of $689,084.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Neil S. Subin sold 99,141 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $7.54, for a total value of $747,523.14. The disclosure for this sale can be found here. In the last three months, insiders sold 231,414 shares of company stock valued at $1,550,045. 4.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp bought a new stake in Iteris in the 2nd quarter valued at $1,606,000. Cowen Prime Services LLC raised its stake in Iteris by 38.0% in the 4th quarter. Cowen Prime Services LLC now owns 777,492 shares of the technology company’s stock valued at $5,419,000 after acquiring an additional 214,097 shares during the period. Ardsley Advisory Partners bought a new stake in Iteris in the 4th quarter valued at $1,220,000. Bank of New York Mellon Corp raised its stake in Iteris by 90.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 126,194 shares of the technology company’s stock valued at $839,000 after acquiring an additional 59,866 shares during the period. Finally, Royce & Associates LP raised its stake in Iteris by 9.5% in the 4th quarter. Royce & Associates LP now owns 576,000 shares of the technology company’s stock valued at $4,015,000 after acquiring an additional 50,000 shares during the period. 33.21% of the stock is owned by institutional investors.
NASDAQ:ITI traded down $0.47 during trading hours on Friday, reaching $4.50. 1,023,529 shares of the stock were exchanged, compared to its average volume of 200,545. Iteris has a twelve month low of $4.08 and a twelve month high of $8.17. The company has a market cap of $164.37, a P/E ratio of -56.25 and a beta of -0.13.
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Iteris Company Profile
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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