Brokerages expect that Itron, Inc. (NASDAQ:ITRI) will post $535.60 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Itron’s earnings. The highest sales estimate is $541.10 million and the lowest is $527.00 million. Itron posted sales of $495.71 million in the same quarter last year, which suggests a positive year over year growth rate of 8%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 28th.
According to Zacks, analysts expect that Itron will report full year sales of $535.60 million for the current year, with estimates ranging from $1.99 billion to $2.02 billion. For the next financial year, analysts forecast that the firm will report sales of $2.31 billion per share, with estimates ranging from $2.13 billion to $2.43 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Itron.
Itron (NASDAQ:ITRI) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.12). Itron had a return on equity of 14.84% and a net margin of 3.42%. The business had revenue of $486.75 million for the quarter, compared to analyst estimates of $526.55 million. During the same period last year, the business posted $0.77 EPS. Itron’s revenue was down 4.0% on a year-over-year basis.
Shares of Itron (ITRI) opened at $70.85 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.67. Itron has a 12-month low of $57.80 and a 12-month high of $79.95. The firm has a market capitalization of $2,834.69 and a PE ratio of 26.81.
In related news, major shareholder Scopia Capital Management Lp bought 11,315 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were acquired at an average price of $68.02 per share, with a total value of $769,646.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas Deitrich sold 11,899 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $69.27, for a total value of $824,243.73. Following the completion of the transaction, the chief operating officer now directly owns 82,776 shares in the company, valued at approximately $5,733,893.52. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 750,261 shares of company stock worth $51,839,736. 2.03% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Itron by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,610 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 31 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Itron in the third quarter valued at approximately $152,000. Royal Bank of Canada increased its holdings in shares of Itron by 10.9% in the second quarter. Royal Bank of Canada now owns 3,042 shares of the scientific and technical instruments company’s stock valued at $206,000 after purchasing an additional 299 shares during the period. Flinton Capital Management LLC increased its holdings in shares of Itron by 70.1% in the second quarter. Flinton Capital Management LLC now owns 3,192 shares of the scientific and technical instruments company’s stock valued at $216,000 after purchasing an additional 1,316 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Itron in the third quarter valued at approximately $218,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.
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Itron, Inc is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. It also provides the Internet of things. 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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