NEW YORK (TheStreet) -- Itron Inc (ITRI) shares are up 11.9% to $40.32 in trading on Friday following the release of the company's first quarter earnings report.
The company posted quarterly revenues of $475 million, beating analysts estimates of $457.7 million by 3.8%.
Non-GAAP earnings for the quarter were 31 cents, missing analysts estimates by 5 cents. The company attributed the net income miss to "higher net interest and a loss related to the significant devaluation of currencies in certain markets."
TheStreet Ratings team rates ITRON INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ITRON INC (ITRI) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: