Wall Street analysts expect that Itron, Inc. (NASDAQ:ITRI) will announce sales of $535.60 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Itron’s earnings. The lowest sales estimate is $527.00 million and the highest is $541.10 million. Itron posted sales of $495.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, February 28th.
On average, analysts expect that Itron will report full-year sales of $535.60 million for the current fiscal year, with estimates ranging from $1.99 billion to $2.02 billion. For the next financial year, analysts anticipate that the company will post sales of $2.31 billion per share, with estimates ranging from $2.13 billion to $2.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Itron.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.12). The firm had revenue of $486.75 million for the quarter, compared to analysts’ expectations of $526.55 million. Itron had a return on equity of 14.84% and a net margin of 3.42%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share.
In related news, major shareholder Scopia Capital Management Lp bought 541,753 shares of the stock in a transaction dated Friday, December 8th. The stock was purchased at an average cost of $69.44 per share, with a total value of $37,619,328.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Deitrich sold 11,899 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $69.27, for a total transaction of $824,243.73. Following the sale, the chief operating officer now directly owns 82,776 shares of the company’s stock, valued at $5,733,893.52. The disclosure for this sale can be found here. Insiders have bought 750,261 shares of company stock valued at $51,839,736 over the last three months. Insiders own 2.03% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Itron by 2.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 31 shares during the period. Macquarie Group Ltd. purchased a new stake in Itron in the third quarter worth about $152,000. Royal Bank of Canada lifted its stake in 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 worth $206,000 after acquiring an additional 299 shares during the period. Flinton Capital Management LLC lifted its stake in Itron by 70.1% in the second quarter. Flinton Capital Management LLC now owns 3,192 shares of the scientific and technical instruments company’s stock worth $216,000 after acquiring an additional 1,316 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Itron in the third quarter worth about $218,000. 93.24% of the stock is owned by hedge funds and other institutional investors.
Itron (NASDAQ:ITRI) opened at $70.85 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. The company has a market cap of $2,834.69 and a price-to-earnings ratio of 26.81. Itron has a one year low of $57.80 and a one year high of $79.95.
WARNING: “Itron, Inc. (ITRI) Expected to Post Quarterly Sales of $535.60 Million” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://sportsperspectives.com/2018/02/02/itron-inc-itri-expected-to-post-quarterly-sales-of-535-60-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.