After last quarter’s earnings report I declared that Itron (ITRI) had finally turned the corner and after another quarter of smashing estimates it appears they’re turning that corner up on two wheels, smoke billowing out the back. The company smashed EPS and revenue estimates after the bell today posting a non GAAP EPS of $1.01 (really .75/share if you take out .26/share tax benefit) on revenues of $499 million. That’s still way ahead of the … Read the rest
Category Archives: Smart Meters
Canaccord Adams, Deutsche Bank Reiterate Buy Rating On Itron (ITRI) Ahead Of Earnings
Both Deutsche Bank and Canaccord Adams are reiterating their Buy rating on Itron (ITRI) ahead of earnings after the bell tomorrow. Both raised the price target from $80 to $85.
Deutsche believes Itron’s Q1 results will exceed expectations and that “improving macro trends were only partially offset by FX (3% Q/Q) and Cu headwinds.”
Canaccord said, “In short, Itron is beginning to benefit from much better OpenWay capacity utilization, as customers look to notably accelerate … Read the rest
Downgrades – CSIQ To Hold, WFR To Sell; ITRI Maintained At Outperform
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest
Azerigas PU To Deploy Itron (ITRI) Smart Meter System
The Azerigas Production Union which is responsible for the transmission and sale of natural gas in the Azerbaijan region of central Asia announced they will implement Itron’s smart meter and payment system in the city of Baku and will roll it out nationwide eventually. Itron has already begun shipping its smart payment meters and smart cards as well as the management software. Consumers will be able to purchase meter credit with their smart cards through … Read the rest
Brean Murray Bullish On Smart Grid Stocks (AMSC, ENOC, ITRI)
Brean Murray is out with a bullish call on the smart grid sector this morning and believes that with healthcare reform out of the way, the government will return its attention back to energy and energy efficiency. Hat tip to Street Insider for the following analyst comment.
“…With (Fed’s) funding checks expected by the second half of 2010 accelerating smart grid deployment projects, and an expectation for increased federal attention back toward energy and efficiency … Read the rest
List Of Green Mutual Funds
I’ve just put the finishing touches on an initial list of green mutual funds, most of which are fairly new and don’t have a long history so invest with caution. The other thing I’ve come across in my research is that some mutual funds claiming to be green aren’t at all green which I discuss in more detail in my report. There are some decent funds such as those put out by Gabelli and … Read the rest
Badger Meter (BMI) Announces Acquisition Of Cox Instruments LLC
Badger Meter has just announced that the company has acquired Cox Instruments, LLC and its subsidiary, Flow Dynamics, Inc. Both companies make precision high performance flow meters for use in aerospace, custody transfer, and flow measurement calibration test stands applications. Put together, both companies had $5.4 million in sales in 2009.
In a , Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter, explained how the acquisition will benefit his company:
“We … Read the rest
Reliant Energy (NRG) Receives $20 Million DOE Grant For Smart Energy
Reliant Energy, owned by NRG Energy, just announced that it has received a $20 million grant from the Department of Energy under the American Reinvestment and Recovery Act. The grant will help Reliant roll out more smart energy options to consumers to help them control their energy use.
In a press release, David Crane, NRG Energy, Inc. President and Chief Executive Officer, commented on the grant:
“We are grateful the DOE recognizes the value of … Read the rest
Itron (ITRI) & Lockheed Martin (LMT) In Smart Grid Collaboration
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Two heavy hitters are collaborating, bringing their smart grid technologies together to reduce the cost and complexity for utilities to deploy smart meters. Itron (ITRI) and Lockheed Martin (LMT) announced today that they will integrate Lockheed’s SEEload Demand Response Solution with Itron’s smart grid platform bringing together Itron’s smart grid expertise with Lockheed’s security, command and control and integration expertise.
Itron VP Philip Mezey commented: “Fostering the … Read the rest
EnerNOC (ENOC) Inks 3YR Deal With PG&E For SiteSMART Smart Grid App
EnerNOC (ENOC) and Pacific Gas & Electric are joining forces to increase the energy efficiency of PG&E’s commercial and institutional customers. The 3 year deal will provide PG&E customers with EnerNOC’s SiteSMART smart grid application in Northern and Central California. The SiteSMART app combines advanced metering technology with data analysis software to provide insight into energy usage that EnerNOC can then use to make energy efficiency recommendations and provide a more comfortable environment in extreme … Read the rest