Jefferies Trims Numbers on Itron (ITRI) After Q1
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Price: $100.03 +1.63%
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
16 Buy, 16 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Jefferies trimmed estimates and its price target on Itron (NASDAQ: ITRI) from $46 to $45 following Q1 results which showed revenues upside but an Opex miss that hurt EPS.
The firm comments, "As expected Itron posted upside to the qtr in revs however opex neg impacted the qtr. Guide was not updated on the call, which will likely serve as an overhang until the 2Q print given 1.37 USD/EUR ex. rate assumed and incr opex levels. Shares are likely to give back some of the week's gains, however, 2012 remains a re-building year for Itron and the industry and we remain buyers as we believe this is largely discounted into shares."
Q2 EPS goes down from $1.15 to $0.99, FY12 EPS goes down from $3.96 to $3.82 and FY13 EPS goes up from $3.89 to $3.90.
For an analyst ratings summary and ratings history on Itron click here. For more ratings news on Itron click here.
Shares of Itron closed at $44.73 yesterday.
The firm comments, "As expected Itron posted upside to the qtr in revs however opex neg impacted the qtr. Guide was not updated on the call, which will likely serve as an overhang until the 2Q print given 1.37 USD/EUR ex. rate assumed and incr opex levels. Shares are likely to give back some of the week's gains, however, 2012 remains a re-building year for Itron and the industry and we remain buyers as we believe this is largely discounted into shares."
Q2 EPS goes down from $1.15 to $0.99, FY12 EPS goes down from $3.96 to $3.82 and FY13 EPS goes up from $3.89 to $3.90.
For an analyst ratings summary and ratings history on Itron click here. For more ratings news on Itron click here.
Shares of Itron closed at $44.73 yesterday.
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