Itron (NASDAQ:ITRI) Posts Quarterly Earnings Results, Beats Estimates By $0.71 EPS

Itron (NASDAQ:ITRI) issued its quarterly earnings data on Thursday. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71, Briefing.com reports. The company had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share.

Itron Stock Up 0.0 %

ITRI stock opened at $111.81 on Friday. The firm’s fifty day simple moving average is $103.88 and its 200-day simple moving average is $102.57. Itron has a 12 month low of $58.88 and a 12 month high of $116.39. The company has a market capitalization of $5.03 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.47. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61.

Insider Activity

In related news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock worth $4,515,846 over the last quarter. 1.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ITRI. Oppenheimer lifted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler upped their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday. Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, July 11th. Finally, BNP Paribas started coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.50.

Itron Company Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.