Itron (ITRI) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

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Itron (NASDAQ:ITRI) announced its quarterly earnings data on Monday. The scientific and technical instruments company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.89 by $0.24, Briefing.com reports. The company had revenue of $595.96 million during the quarter, compared to the consensus estimate of $604.98 million. Itron had a negative net margin of 5.18% and a positive return on equity of 12.86%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Itron updated its FY 2018 guidance to $2.40-2.50 EPS and its FY18 guidance to $2.40-2.50 EPS.

NASDAQ ITRI traded up $2.37 during mid-day trading on Wednesday, hitting $54.06. The company’s stock had a trading volume of 8,694 shares, compared to its average volume of 245,708. Itron has a twelve month low of $49.59 and a twelve month high of $77.40. The company has a current ratio of 1.51, a quick ratio of 1.18 and a debt-to-equity ratio of 1.61. The company has a market cap of $2.14 billion, a P/E ratio of 17.74, a PEG ratio of 0.93 and a beta of 1.10.

In related news, insider Philip Mezey sold 16,694 shares of Itron stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $65.04, for a total value of $1,085,777.76. Following the completion of the sale, the insider now owns 93,341 shares of the company’s stock, valued at approximately $6,070,898.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.32% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ITRI. BlackRock Inc. boosted its holdings in Itron by 8.2% during the 2nd quarter. BlackRock Inc. now owns 5,056,574 shares of the scientific and technical instruments company’s stock worth $303,648,000 after acquiring an additional 384,272 shares during the last quarter. Scopia Capital Management LP boosted its holdings in Itron by 5.0% during the 2nd quarter. Scopia Capital Management LP now owns 5,484,889 shares of the scientific and technical instruments company’s stock worth $329,368,000 after acquiring an additional 262,749 shares during the last quarter. First Trust Advisors LP boosted its holdings in Itron by 52.1% during the 2nd quarter. First Trust Advisors LP now owns 575,715 shares of the scientific and technical instruments company’s stock worth $34,572,000 after acquiring an additional 197,199 shares during the last quarter. Raymond James & Associates boosted its holdings in Itron by 3,996.2% during the 2nd quarter. Raymond James & Associates now owns 193,176 shares of the scientific and technical instruments company’s stock worth $11,600,000 after acquiring an additional 188,460 shares during the last quarter. Finally, Robecosam AG boosted its holdings in Itron by 40.6% during the 2nd quarter. Robecosam AG now owns 485,000 shares of the scientific and technical instruments company’s stock worth $28,955,000 after acquiring an additional 140,000 shares during the last quarter. 93.73% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on the stock. Cowen set a $80.00 price objective on shares of Itron and gave the stock a “buy” rating in a research report on Monday, August 6th. ValuEngine raised shares of Itron from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Oppenheimer reduced their price objective on shares of Itron from $76.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. Robert W. Baird reduced their price objective on shares of Itron from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Itron from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $77.00.

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About Itron

Itron, Inc, a technology company, provides end-to-end solutions that measures, manages, and analyzes energy and water use worldwide. The company operates through three segments: Electricity, Gas, and Water. It offers standard electromechanical and electronic, gas, and water and heat meters; and smart electricity, gas, and water meters and communication modules.

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Earnings History for Itron (NASDAQ:ITRI)

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