Wall Street brokerages expect Iteris Inc (NASDAQ:ITI) to announce earnings per share of ($0.02) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Iteris’ earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.03). Iteris posted earnings of ($0.03) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The firm is scheduled to issue its next earnings report on Wednesday, February 6th.
On average, analysts expect that Iteris will report full-year earnings of ($0.11) per share for the current fiscal year, with EPS estimates ranging from ($0.14) to ($0.04). For the next financial year, analysts anticipate that the business will post earnings of $0.05 per share, with EPS estimates ranging from $0.00 to $0.09. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Iteris.
Iteris (NASDAQ:ITI) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. Iteris had a negative return on equity of 8.76% and a negative net margin of 4.93%. The firm had revenue of $24.42 million for the quarter, compared to the consensus estimate of $25.29 million.
Several research firms have weighed in on ITI. B. Riley cut their target price on Iteris from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Zacks Investment Research downgraded Iteris from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine upgraded Iteris from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Dougherty & Co reiterated a “buy” rating on shares of Iteris in a report on Tuesday, September 4th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $7.75.
Shares of ITI stock traded down $0.06 during trading on Friday, hitting $4.19. The company had a trading volume of 59,400 shares, compared to its average volume of 161,618. The stock has a market cap of $141.29 million, a P/E ratio of -104.75 and a beta of 0.20. Iteris has a one year low of $3.62 and a one year high of $7.88.
In other Iteris news, major shareholder Neil S. Subin sold 38,646 shares of the business’s stock in a transaction on Friday, October 19th. The shares were sold at an average price of $4.30, for a total value of $166,177.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Neil S. Subin sold 52,830 shares of the business’s stock in a transaction on Wednesday, October 17th. The stock was sold at an average price of $4.42, for a total transaction of $233,508.60. The disclosure for this sale can be found here. Insiders sold a total of 215,682 shares of company stock valued at $913,198 over the last quarter. 6.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cowen Prime Services LLC lifted its stake in shares of Iteris by 1.7% in the third quarter. Cowen Prime Services LLC now owns 913,192 shares of the technology company’s stock worth $4,913,000 after buying an additional 15,500 shares in the last quarter. BlackRock Inc. lifted its holdings in Iteris by 1.2% during the 3rd quarter. BlackRock Inc. now owns 1,973,647 shares of the technology company’s stock valued at $10,618,000 after buying an additional 23,225 shares in the last quarter. Ancora Advisors LLC lifted its holdings in Iteris by 16.3% during the 3rd quarter. Ancora Advisors LLC now owns 177,041 shares of the technology company’s stock valued at $953,000 after buying an additional 24,867 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Iteris by 25.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 204,016 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 41,395 shares during the period. Finally, Royce & Associates LP increased its position in Iteris by 9.1% during the 3rd quarter. Royce & Associates LP now owns 1,204,000 shares of the technology company’s stock valued at $6,478,000 after purchasing an additional 100,000 shares during the period. Institutional investors own 33.53% of the company’s stock.
Iteris Company Profile
Iteris, Inc provides intelligent transportation systems technology solutions worldwide. The company's Roadway Sensors segment provides vehicle detection sensors and systems for traffic intersection management, communication systems, and roadway traffic data collection applications. Its products include Vantage detection system to detect vehicle presence at intersections, as well as vehicle count, speed, and other traffic data; Vantage Vector video/radar hybrid product, an vehicle detection sensor; and VantageLive!, a cloud-based platform; and Vantage systems equipped with smartcycle capability to differentiate between bicycles and other vehicles with a single video detection camera.
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