Itron, Inc. (ITRI) Expected to Announce Earnings of $0.67 Per Share

Wall Street brokerages expect Itron, Inc. (NASDAQ:ITRI) to post earnings of $0.67 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Itron’s earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.68. Itron reported earnings per share of $0.65 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next quarterly earnings results on Thursday, September 7th.

On average, analysts expect that Itron will report full year earnings of $2.99 per share for the current financial year, with EPS estimates ranging from $2.97 to $3.03. For the next fiscal year, analysts expect that the company will post earnings of $3.66 per share, with EPS estimates ranging from $3.65 to $3.67. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Itron.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Wednesday, May 3rd. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. Itron had a net margin of 1.88% and a return on equity of 15.51%. The business had revenue of $477.59 million during the quarter, compared to analysts’ expectations of $454.20 million.

A number of research firms have recently issued reports on ITRI. Oppenheimer Holdings, Inc. set a $70.00 price target on shares of Itron and gave the company a “buy” rating in a report on Wednesday, March 1st. Needham & Company LLC boosted their price target on shares of Itron from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 1st. Robert W. Baird set a $73.00 price target on shares of Itron and gave the company a “buy” rating in a report on Thursday, March 2nd. TheStreet upgraded shares of Itron from a “c+” rating to a “b+” rating in a report on Tuesday, February 28th. Finally, Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $70.88.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in Itron by 1.5% in the first quarter. SG Americas Securities LLC now owns 2,366 shares of the scientific and technical instruments company’s stock valued at $144,000 after buying an additional 36 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Itron by 0.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,810 shares of the scientific and technical instruments company’s stock valued at $656,000 after buying an additional 60 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Itron by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 3,680 shares of the scientific and technical instruments company’s stock valued at $223,000 after buying an additional 80 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Itron by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 13,600 shares of the scientific and technical instruments company’s stock valued at $826,000 after buying an additional 200 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Itron by 1.2% in the first quarter. Arizona State Retirement System now owns 17,334 shares of the scientific and technical instruments company’s stock valued at $1,052,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

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Shares of Itron (NASDAQ:ITRI) traded down 1.01% during mid-day trading on Thursday, reaching $68.45. 98,790 shares of the company were exchanged. The firm has a market capitalization of $2.65 billion, a PE ratio of 71.15 and a beta of 1.15. Itron has a 12 month low of $40.12 and a 12 month high of $71.95. The company’s 50 day moving average price is $67.18 and its 200 day moving average price is $63.64.

About Itron

Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. 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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