Analysts on Wall Street project that Itron (ITRI) will announce quarterly earnings of $1.48 per share in its forthcoming report, representing a decline of 19.6% year over year. Revenues are projected to reach $576.45 million, declining 6.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Itron metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Revenue- Device Solutions' stands at $111.07 million. The estimate indicates a year-over-year change of -9.5%.
According to the collective judgment of analysts, 'Revenue- Networked Solutions' should come in at $383.53 million. The estimate suggests a change of -8% year over year.
The average prediction of analysts places 'Revenue- Outcomes' at $82.67 million. The estimate indicates a year-over-year change of +8.8%.
Analysts predict that the 'Revenue- Total Product Revenue' will reach $499.62 million. The estimate indicates a year-over-year change of -7.2%.
The combined assessment of analysts suggests that 'Revenue- Total Service Revenue' will likely reach $77.03 million. The estimate indicates a year-over-year change of -0.2%.
Analysts expect 'Service Revenue- Networked Solutions' to come in at $25.37 million. The estimate suggests a change of -4.3% year over year.
Analysts' assessment points toward 'Product Revenue- Device Solutions' reaching $111.12 million. The estimate suggests a change of -9% year over year.
The collective assessment of analysts points to an estimated 'Product Revenue- Networked Solutions' of $356.13 million. The estimate points to a change of -8.7% from the year-ago quarter.
Analysts forecast 'Service Revenue- Outcomes' to reach $53.37 million. The estimate indicates a change of +6.6% from the prior-year quarter.
It is projected by analysts that the 'Product Revenue- Outcomes' will reach $24.76 million. The estimate indicates a change of -4.5% from the prior-year quarter.
The consensus among analysts is that 'Gross Profit- Device Solutions' will reach $33.01 million. Compared to the present estimate, the company reported $33.34 million in the same quarter last year.
Based on the collective assessment of analysts, 'Gross Profit- Outcomes' should arrive at $31.91 million. The estimate is in contrast to the year-ago figure of $26.61 million.
View all Key Company Metrics for Itron here>>>
Over the past month, Itron shares have recorded returns of +9.6% versus the Zacks S&P 500 composite's +3.6% change. Based on its Zacks Rank #2 (Buy), ITRI will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Itron, Inc. (ITRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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