Itron Downgraded to Neutral at Credit Suisse (ITRI)
Itron (NASDAQ:ITRI) was downgraded by research analysts at Credit Suisse to a “neutral” rating in a report released on Thursday, StockRatingsNetwork reports. They currently have a $45.00 price target on the stock. Credit Suisse’s price target suggests a potential upside of 8.43% from the company’s current price.
The analysts wrote, “Itron reported a 5% miss, delivering a ‘clean’ non-GAAP EPS of $0.72 (excl. $0.36 tax charge) in Q4 vs. cons of $0.76 but in-line with our estimate of $0.72 and in-line with prior comments of the low end of the prior guidance range of $2.25-$2.55 for the year. We lower our 2014/2015 estimates to $1.66/$2.34 (from $2.66/$3.54) to reflect the continued pressures. We retain our Neutral rating and lower our Target Price to $38 (from $45) reflecting 23x 2014 EPS. We are encouraged, however, by management’s recent acknowledgement of the need to rethink the way they approach parts of their business.”
Several other analysts have also recently commented on the stock. Analysts at Brean Capital downgraded shares of Itron from a “hold” rating to a “sell” rating in a research note on Thursday. They now have a $28.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Itron from a “neutral” rating to an “underweight” rating in a research note on Thursday. Finally, analysts at Canaccord Genuity downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.80.
Shares of Itron (NASDAQ:ITRI) opened at 41.83 on Thursday. Itron has a 1-year low of $37.01 and a 1-year high of $48.42. The stock’s 50-day moving average is $40.99 and its 200-day moving average is $41.39. The company has a market cap of $1.638 billion and a price-to-earnings ratio of 66.83.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.02. The company had revenue of $524.00 million for the quarter, compared to the consensus estimate of $526.94 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Itron will post $2.29 earnings per share for the current fiscal year.
Itron, Inc(NASDAQ:ITRI) is a technology company and one of the global suppliers of a broad range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software and services.
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