Equities analysts expect that Iteris, Inc. (NASDAQ:ITI) will post sales of $26.21 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Iteris’ earnings. The lowest sales estimate is $26.11 million and the highest is $26.32 million. Iteris reported sales of $25.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.6%. The firm is expected to announce its next earnings results on Thursday, June 14th.
According to Zacks, analysts expect that Iteris will report full-year sales of $26.21 million for the current year, with estimates ranging from $104.57 million to $104.77 million. For the next fiscal year, analysts expect that the business will report sales of $109.86 million per share, with estimates ranging from $109.24 million to $110.48 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Iteris.
Iteris (NASDAQ:ITI) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Iteris had a negative return on equity of 10.05% and a negative net margin of 4.32%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $23.28 million.
A number of research analysts recently issued reports on ITI shares. B. Riley set a $9.00 price objective on Iteris and gave the company a “buy” rating in a research report on Thursday, January 11th. JMP Securities started coverage on Iteris in a research report on Thursday, January 25th. They set an “outperform” rating and a $10.50 price objective for the company. Finally, Zacks Investment Research lowered Iteris from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.75.
In other Iteris news, major shareholder Neil S. Subin sold 99,141 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $7.54, for a total transaction of $747,523.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas N. Blair sold 18,750 shares of the business’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $6.05, for a total value of $113,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 231,414 shares of company stock valued at $1,550,045 in the last quarter. 4.30% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. TIAA FSB boosted its position in Iteris by 8.6% during the 4th quarter. TIAA FSB now owns 103,359 shares of the technology company’s stock worth $720,000 after acquiring an additional 8,146 shares during the period. The Manufacturers Life Insurance Company boosted its position in Iteris by 120.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 20,942 shares of the technology company’s stock worth $146,000 after acquiring an additional 11,438 shares during the period. Wells Fargo & Company MN boosted its position in Iteris by 1,730.8% during the 3rd quarter. Wells Fargo & Company MN now owns 18,308 shares of the technology company’s stock worth $122,000 after acquiring an additional 17,308 shares during the period. GSA Capital Partners LLP acquired a new position in Iteris during the 3rd quarter worth $116,000. Finally, SG Americas Securities LLC acquired a new position in Iteris during the 3rd quarter worth $120,000. Institutional investors own 33.21% of the company’s stock.
NASDAQ:ITI opened at $4.50 on Monday. Iteris has a 12-month low of $4.08 and a 12-month high of $8.17. The company has a market cap of $148.83, a P/E ratio of -56.25 and a beta of -0.13.
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Iteris, Inc provides intelligent information solutions to traffic management and global agribusiness markets worldwide. It operates in three segments: Roadway Sensors, Transportation Systems, and Agriculture and Weather Analytics. The Roadway Sensors segment provides vehicle detection and information systems and products for traffic intersection control, incident detection, and roadway traffic data collection applications.
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