$26.31 Million in Sales Expected for Iteris Inc (ITI) This Quarter
Equities analysts expect that Iteris Inc (NYSE:ITI) will report sales of $26.31 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Iteris’ earnings. The lowest sales estimate is $26.26 million and the highest is $26.36 million. Iteris posted sales of $23.93 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The company is scheduled to report its next earnings report after the market closes on Monday, August 7th.
On average, analysts expect that Iteris will report full-year sales of $26.31 million for the current year, with estimates ranging from $101.28 million to $104.56 million. For the next year, analysts anticipate that the business will report sales of $116.46 million per share, with estimates ranging from $113.57 million to $119.35 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Iteris.
Iteris (NYSE:ITI) last posted its earnings results on Thursday, June 8th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). Iteris had a negative net margin of 13.64% and a negative return on equity of 33.30%. The business had revenue of $25.30 million for the quarter, compared to analyst estimates of $21.50 million.
A number of research firms recently commented on ITI. B. Riley reaffirmed a “buy” rating and issued a $9.00 price target on shares of Iteris in a research note on Wednesday, June 14th. Dougherty & Co began coverage on Iteris in a research note on Tuesday, July 18th. They issued a “buy” rating and a $8.00 price target for the company. Northland Securities set a $8.00 price target on Iteris and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Zacks Investment Research downgraded Iteris from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st.
In other Iteris news, major shareholder Lloyd I. Miller III sold 28,226 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $6.50, for a total transaction of $183,469.00. Following the completion of the transaction, the insider now owns 42,743 shares of the company’s stock, valued at $277,829.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Global Investors Fundamental sold 385,218 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $5.49, for a total value of $2,114,846.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 733,944 shares of company stock valued at $4,061,066.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cowen Prime Services LLC acquired a new position in shares of Iteris during the second quarter valued at approximately $1,249,000. Royce & Associates LP increased its position in shares of Iteris by 39.9% in the second quarter. Royce & Associates LP now owns 526,000 shares of the company’s stock valued at $3,272,000 after buying an additional 150,000 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Iteris by 309.9% in the second quarter. Bank of New York Mellon Corp now owns 66,328 shares of the company’s stock valued at $413,000 after buying an additional 50,145 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Iteris during the second quarter valued at approximately $136,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of Iteris during the second quarter valued at approximately $257,000.
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Shares of Iteris (ITI) opened at 6.57 on Tuesday. The company’s market cap is $213.48 million. The stock has a 50 day moving average of $6.18 and a 200 day moving average of $5.53. Iteris has a 12-month low of $3.03 and a 12-month high of $6.91.
Iteris Company Profile
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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