Itron, Inc. (ITRI) Expected to Post Quarterly Sales of $535.60 Million

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.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Itron from a “hold” rating to a “sell” rating in a research note on Monday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of Itron in a research note on Friday, November 3rd. UBS Group assumed coverage on shares of Itron in a research note on Tuesday, January 2nd. They set a “strong-buy” rating and a $84.00 price objective for the company. Canaccord Genuity reaffirmed a “hold” rating and set a $78.00 price objective on shares of Itron in a research note on Wednesday, December 27th. Finally, BidaskClub raised shares of Itron from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $82.18.

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.

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About Itron

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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