Itron (ITRI) ended the recent trading session at $125.04, demonstrating a +2.53% change from the preceding day's closing price. This change outpaced the S&P 500's 0.94% gain on the day. Elsewhere, the Dow saw an upswing of 0.75%, while the tech-heavy Nasdaq appreciated by 1.52%.
Heading into today, shares of the energy and water meter company had gained 6.22% over the past month, outpacing the Computer and Technology sector's gain of 3.9% and the S&P 500's gain of 1.67%.
Analysts and investors alike will be keeping a close eye on the performance of Itron in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.33, reflecting a 9.92% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $609.26 million, reflecting a 0.03% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.45 per share and revenue of $2.46 billion, which would represent changes of -3.02% and +0.76%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Itron. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.6% higher. Itron currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Itron is presently trading at a Forward P/E ratio of 22.37. This signifies a discount in comparison to the average Forward P/E of 23.64 for its industry.
It's also important to note that ITRI currently trades at a PEG ratio of 0.77. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.65.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Itron, Inc. (ITRI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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