Itron, Inc. (ITRI) Issues Earnings Results, Misses Estimates By $0.12 EPS
Itron, Inc. (NASDAQ:ITRI) issued its earnings results on Wednesday. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.12), Bloomberg Earnings reports. The firm had revenue of $486.75 million for the quarter, compared to analyst estimates of $526.55 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. Itron’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share.
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ITRI has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Canaccord Genuity restated a “buy” rating and set a $78.00 target price on shares of Itron in a report on Friday, July 14th. JMP Securities set a $88.00 target price on shares of Itron and gave the stock a “buy” rating in a report on Tuesday, July 18th. Needham & Company LLC restated a “buy” rating and set a $84.00 target price (up from $74.00) on shares of Itron in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, August 28th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $81.78.
Itron Company Profile
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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