Iteris Inc (ITI) Expected to Announce Earnings of -$0.01 Per Share
Wall Street brokerages predict that Iteris Inc (NYSE:ITI) will report earnings per share (EPS) of ($0.01) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Iteris’ earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.00. The business is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Iteris will report full year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.07) to ($0.06). For the next financial year, analysts expect that the company will report earnings of $0.05 per share, with EPS estimates ranging from $0.01 to $0.08. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Iteris.
Iteris (NYSE:ITI) last posted its quarterly earnings results on Monday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Iteris had a negative net margin of 2.05% and a negative return on equity of 5.53%. The company had revenue of $27.18 million for the quarter, compared to analyst estimates of $26.31 million.
Several equities research analysts have recently issued reports on ITI shares. Zacks Investment Research upgraded shares of Iteris from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Tuesday, August 29th. Northland Securities set a $8.00 price objective on shares of Iteris and gave the company a “buy” rating in a research report on Friday, August 4th. Dougherty & Co started coverage on shares of Iteris in a research report on Tuesday, July 18th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, B. Riley reiterated a “buy” rating and set a $9.00 price objective on shares of Iteris in a research report on Friday, August 4th.
Iteris (NYSE ITI) traded down 2.68% during mid-day trading on Friday, hitting $7.25. 682,287 shares of the stock traded hands. The company’s 50 day moving average price is $6.31 and its 200-day moving average price is $5.96. The stock’s market cap is $236.10 million. Iteris has a 1-year low of $3.20 and a 1-year high of $7.77.
In other news, Director Global Investors Fundamental sold 269,293 shares of Iteris stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $6.31, for a total transaction of $1,699,238.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas N. Blair sold 17,096 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $6.00, for a total transaction of $102,576.00. Following the completion of the sale, the vice president now owns 25,000 shares in the company, valued at approximately $150,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 481,051 shares of company stock worth $2,990,259.
A number of institutional investors and hedge funds have recently made changes to their positions in ITI. Strs Ohio bought a new stake in Iteris in the second quarter worth $396,000. Spark Investment Management LLC increased its position in Iteris by 191.3% in the second quarter. Spark Investment Management LLC now owns 30,000 shares of the company’s stock worth $186,000 after purchasing an additional 19,700 shares during the last quarter. CAPROCK Group Inc. bought a new stake in Iteris in the second quarter worth $227,000. Essex Investment Management Co. LLC bought a new stake in Iteris in the second quarter worth $724,000. Finally, Trexquant Investment LP bought a new stake in Iteris in the second quarter worth $205,000.
Iteris, Inc is a provider of information solutions for both the traffic management and global agribusiness markets. The Company operates through three segments: Roadway Sensors, Transportation Systems and Performance Analytics. The Roadway Sensors segment provides various vehicle detection and information systems and products for traffic intersection control, incident detection and roadway traffic data collection applications.
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