Oppenheimer Holdings Brokers Raise Earnings Estimates for Itron, Inc. (ITRI)
Itron, Inc. (NASDAQ:ITRI) – Oppenheimer Holdings increased their Q3 2017 earnings per share (EPS) estimates for Itron in a report released on Thursday. Oppenheimer Holdings analyst N. Kaye now anticipates that the scientific and technical instruments company will post earnings of $0.96 per share for the quarter, up from their previous forecast of $0.85. Oppenheimer Holdings currently has a “Outperform” rating and a $78.00 price target on the stock. Oppenheimer Holdings also issued estimates for Itron’s Q4 2017 earnings at $0.99 EPS and FY2019 earnings at $4.51 EPS.
Other analysts also recently issued reports about the company. JMP Securities set a $88.00 price target on Itron and gave the company a “buy” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Tuesday, May 2nd. Canaccord Genuity restated a “buy” rating and issued a $78.00 price target on shares of Itron in a research note on Friday, July 14th. BidaskClub downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Guggenheim initiated coverage on Itron in a research note on Tuesday, June 20th. They issued a “buy” rating and a $81.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $79.00.
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Itron (NASDAQ ITRI) opened at 72.05 on Monday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 89.17 and a beta of 1.10. Itron has a 1-year low of $40.53 and a 1-year high of $75.60. The company has a 50-day moving average price of $70.29 and a 200 day moving average price of $65.06.
Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. Itron had a return on equity of 15.43% and a net margin of 1.60%. The firm had revenue of $503.10 million during the quarter, compared to the consensus estimate of $491.80 million. During the same period in the prior year, the company earned $0.65 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Itron by 153,249.9% in the first quarter. BlackRock Inc. now owns 4,339,801 shares of the scientific and technical instruments company’s stock valued at $263,427,000 after buying an additional 4,336,971 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Itron by 65.7% in the first quarter. Wellington Management Group LLP now owns 1,786,445 shares of the scientific and technical instruments company’s stock valued at $108,437,000 after buying an additional 708,009 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Itron by 94.2% in the second quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock valued at $60,683,000 after buying an additional 434,500 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Itron by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,795,716 shares of the scientific and technical instruments company’s stock valued at $230,400,000 after buying an additional 271,194 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Itron during the fourth quarter valued at about $15,064,000. 94.55% of the stock is owned by hedge funds and other institutional investors.
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. 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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