What is Zacks Research’s Forecast for Itron FY2024 Earnings?

Itron, Inc. (NASDAQ:ITRI) – Zacks Research raised their FY2024 earnings per share estimates for Itron in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the scientific and technical instruments company will post earnings of $5.31 per share for the year, up from their prior estimate of $4.47. The consensus estimate for Itron’s current full-year earnings is $5.33 per share. Zacks Research also issued estimates for Itron’s Q1 2025 earnings at $1.07 EPS, Q2 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.09 EPS and FY2025 earnings at $4.43 EPS.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the company earned $0.98 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of other brokerages have also recently commented on ITRI. Piper Sandler upped their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Roth Mkm lifted their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Guggenheim increased their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Itron Stock Up 1.9 %

ITRI stock opened at $116.25 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 0.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The business’s 50-day moving average is $108.87 and its two-hundred day moving average is $104.86. Itron has a fifty-two week low of $65.20 and a fifty-two week high of $124.90.

Insider Transactions at Itron

In related news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,066 shares of company stock worth $4,092,737. 1.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Itron

Hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC grew its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Quarry LP raised its stake in shares of Itron by 53.0% during the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares in the last quarter. Continuum Advisory LLC lifted its position in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares during the last quarter. Covestor Ltd boosted its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

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.