In the latest close session, Itron (ITRI) was up +1.14% at $134.08. This change outpaced the S&P 500's 0.48% gain on the day. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.94%.
Shares of the energy and water meter company have appreciated by 10.94% over the course of the past month, outperforming the Computer and Technology sector's gain of 7.61%, and the S&P 500's gain of 5.13%.
The investment community will be closely monitoring the performance of Itron in its forthcoming earnings report. The company is expected to report EPS of $1.33, up 9.92% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $609.26 million, up 0.03% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.45 per share and revenue of $2.46 billion. These totals would mark changes of -3.02% and +0.76%, respectively, from last year.
Any recent changes to analyst estimates for Itron should also be noted by investors. These revisions help to show the ever-changing nature 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.11% upward. As of now, Itron holds a Zacks Rank of #3 (Hold).
With respect to valuation, Itron is currently being traded at a Forward P/E ratio of 24.32. For comparison, its industry has an average Forward P/E of 25.05, which means Itron is trading at a discount to the group.
It is also worth noting that ITRI currently has a PEG ratio of 0.84. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Electronics - Testing Equipment was holding an average PEG ratio of 2.2 at yesterday's closing price.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 91, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much 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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