Itron (NASDAQ:ITRI) Posts Earnings Results, Beats Estimates By $0.71 EPS

Itron (NASDAQ:ITRI - Get Free Report) announced its earnings results on Thursday. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71, Briefing.com reports. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the business earned $0.98 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year.

Itron Trading Up 0.0 %

Shares of ITRI traded up $0.05 during trading on Friday, reaching $111.81. 963,729 shares of the company traded hands, compared to its average volume of 495,505. Itron has a twelve month low of $58.88 and a twelve month high of $116.39. The stock has a market cap of $5.03 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The stock has a 50-day simple moving average of $103.88 and a 200-day simple moving average of $102.57. The company has a quick ratio of 2.61, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,515,846 over the last three months. Insiders own 1.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ITRI shares. Robert W. Baird lifted their target price on shares of Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of Itron from $104.00 to $112.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 16th. Oppenheimer raised their price target on shares of Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They issued an "outperform" rating and a $133.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.50.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.