Itron (NASDAQ:ITRI) Updates Q4 2024 Earnings Guidance

Itron (NASDAQ:ITRI) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.000-1.100 for the period, compared to the consensus earnings per share estimate of 1.010. The company issued revenue guidance of $600.0 million-$610.0 million, compared to the consensus revenue estimate of $596.5 million. Itron also updated its FY 2024 guidance to 5.280-5.380 EPS.

Itron Trading Up 0.0 %

Shares of ITRI traded up $0.05 during trading hours on Friday, reaching $111.81. 963,729 shares of the company traded hands, compared to its average volume of 495,505. The company’s fifty day moving average price is $103.88 and its two-hundred day moving average price is $102.65. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. The company has a quick ratio of 2.61, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron has a 12 month low of $58.88 and a 12 month high of $116.39.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. Equities research analysts predict that Itron will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ITRI shares. Roth Mkm increased 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. Robert W. Baird increased their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen increased their price objective on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, July 11th. Finally, Piper Sandler increased their price objective on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Itron has an average rating of “Moderate Buy” and a consensus target price of $123.50.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Itron news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock valued at $4,515,846 in the last 90 days. Insiders own 1.45% of the company’s stock.

Itron Company Profile

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.