In the latest close session, Itron (ITRI) was up +1.22% at $98.44. This change outpaced the S&P 500's 0.01% gain on the day. Elsewhere, the Dow gained 0.55%, while the tech-heavy Nasdaq lost 0.44%.
Coming into today, shares of the energy and water meter company had lost 1.06% in the past month. In that same time, the Computer and Technology sector lost 0.69%, while the S&P 500 gained 0.86%.
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 $2.19, marking a 62.22% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $561.79 million, down 8.33% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.87 per share and a revenue of $2.36 billion, indicating changes of +22.24% and 0%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Itron currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Itron is holding a Forward P/E ratio of 16.14. This valuation marks a discount compared to its industry average Forward P/E of 22.85.
It is also worth noting that ITRI currently has a PEG ratio of 0.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Testing Equipment industry had an average PEG ratio of 2.78 as trading concluded yesterday.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ITRI in the coming trading sessions, be sure to utilize 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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