Itron (ITRI) closed the latest trading day at $103.82, indicating a -1.35% change from the previous session's end. This change was narrower than the S&P 500's 1.97% loss on the day. Meanwhile, the Dow lost 1.69%, and the Nasdaq, a tech-heavy index, lost 2.7%.
Shares of the energy and water meter company witnessed a loss of 1.54% over the previous month, beating the performance of the Computer and Technology sector with its loss of 4.83% and the S&P 500's loss of 2.79%.
The investment community will be closely monitoring the performance of Itron in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.30, marking a 4.84% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $614.27 million, reflecting a 1.8% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.36 per share and a revenue of $2.46 billion, representing changes of -4.63% and +0.61%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.37% higher. At present, Itron boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Itron is currently being traded at a Forward P/E ratio of 19.64. For comparison, its industry has an average Forward P/E of 22.1, which means Itron is trading at a discount to the group.
It is also worth noting that ITRI currently has a PEG ratio of 0.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ITRI's industry had an average PEG ratio of 2.43 as of yesterday's close.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Itron, Inc. (ITRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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