Iteris Inc (ITI) to Post FY2019 Earnings of $0.04 Per Share, B. Riley Forecasts
Iteris Inc (NYSE:ITI) – Analysts at B. Riley cut their FY2019 earnings per share estimates for Iteris in a research note issued on Monday. B. Riley analyst J. Van. Sinderen now forecasts that the company will post earnings of $0.04 per share for the year, down from their prior estimate of $0.08. B. Riley has a “Buy” rating and a $9.00 price objective on the stock. B. Riley also issued estimates for Iteris’ FY2020 earnings at $0.38 EPS.
A number of other equities research analysts also recently commented on the company. Zacks Investment Research raised Iteris from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a report on Tuesday, August 29th. Northland Securities set a $8.00 target price on Iteris and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Dougherty & Co began coverage on Iteris in a report on Tuesday, July 18th. They set a “buy” rating and a $8.00 target price for the company.
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Iteris (NYSE ITI) traded up 2.62% during trading on Thursday, reaching $7.44. 199,267 shares of the company’s stock traded hands. The firm’s market cap is $242.29 million. Iteris has a one year low of $3.20 and a one year high of $7.77. The company has a 50 day moving average of $6.31 and a 200 day moving average of $5.96.
Iteris (NYSE:ITI) last posted its earnings results on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The business had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $26.31 million. Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Iteris by 28.0% in the second quarter. Vanguard Group Inc. now owns 813,850 shares of the company’s stock valued at $5,062,000 after acquiring an additional 177,980 shares during the period. Royce & Associates LP lifted its holdings in 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 acquiring an additional 150,000 shares during the period. Northern Trust Corp lifted its holdings in Iteris by 256.5% in the second quarter. Northern Trust Corp now owns 306,623 shares of the company’s stock valued at $1,907,000 after acquiring an additional 220,625 shares during the period. State Street Corp acquired a new position in Iteris in the second quarter valued at approximately $1,606,000. Finally, King Luther Capital Management Corp lifted its holdings in Iteris by 27.0% in the second quarter. King Luther Capital Management Corp now owns 206,900 shares of the company’s stock valued at $1,287,000 after acquiring an additional 44,033 shares during the period.
In other Iteris news, insider Todd Kreter sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $6.19, for a total value of $247,600.00. Following the completion of the transaction, the insider now directly owns 43,303 shares of the company’s stock, valued at $268,045.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Global Investors Fundamental sold 110,912 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $6.12, for a total value of $678,781.44. The disclosure for this sale can be found here. Insiders have sold 481,051 shares of company stock valued at $2,990,259 in the last ninety days.
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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