Itron, Inc. (NASDAQ:ITRI) - Equities research analysts at Oppenheimer Holdings increased their FY2017 EPS estimates for Itron in a research report issued on Thursday. Oppenheimer Holdings analyst N. Kaye now expects that the scientific and technical instruments company will earn $3.05 per share for the year, up from their prior estimate of $2.97. Oppenheimer Holdings currently has a “Outperform” rating and a $78.00 target price on the stock. Oppenheimer Holdings also issued estimates for Itron’s FY2020 earnings at $5.39 EPS.
Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The company had revenue of $503.10 million during the quarter, compared to the consensus estimate of $491.80 million. Itron had a return on equity of 15.43% and a net margin of 1.60%. Itron’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. ILLEGAL ACTIVITY WARNING: This news story was reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://stocknewstimes.com/2017/08/05/oppenheimer-holdings-comments-on-itron-inc-s-fy2017-earnings-nasdaqitri.html.
Several other analysts also recently weighed in on ITRI. Zacks Investment Research upgraded Itron from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, May 2nd. Canaccord Genuity restated a “buy” rating and set a $72.00 target price on shares of Itron in a research note on Friday, May 26th. Guggenheim initiated coverage on Itron in a research note on Tuesday, June 20th. They set a “buy” rating and a $81.00 target price for the company. BidaskClub downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Robert W. Baird restated an “outperform” rating and set a $73.00 target price on shares of Itron in a research note on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.00.
Shares of Itron (NASDAQ ITRI) opened at 72.05 on Friday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 89.17 and a beta of 1.10. Itron has a one year low of $40.53 and a one year high of $75.60. The firm’s 50-day moving average price is $70.29 and its 200-day moving average price is $65.06.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Itron by 153,249.9% in the first quarter. BlackRock Inc. now owns 4,339,801 shares of the scientific and technical instruments company’s stock worth $263,427,000 after buying an additional 4,336,971 shares during the period. Vanguard Group Inc. increased its position in Itron by 7.7% in the first quarter. Vanguard Group Inc. now owns 3,795,716 shares of the scientific and technical instruments company’s stock worth $230,400,000 after buying an additional 271,194 shares during the period. Wellington Management Group LLP increased its position in Itron by 65.7% in the first quarter. Wellington Management Group LLP now owns 1,786,445 shares of the scientific and technical instruments company’s stock worth $108,437,000 after buying an additional 708,009 shares during the period. Impax Asset Management LTD increased its position in Itron by 11.7% in the first quarter. Impax Asset Management LTD now owns 1,435,638 shares of the scientific and technical instruments company’s stock worth $87,140,000 after buying an additional 149,909 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Itron by 94.2% in the second quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock worth $60,683,000 after buying an additional 434,500 shares during the period. Institutional investors and hedge funds own 94.55% of the company’s stock.
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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