In the latest market close, Itron (ITRI – Free Report) reached $94.38, with a -0.43% movement compared to the previous day. This change lagged the S&P 500’s daily loss of 0.23%. Elsewhere, the Dow lost 0.91%, while the tech-heavy Nasdaq added 0.1%.
The the stock of energy and water meter company has fallen by 10.42% in the past month, leading the Computer and Technology sector’s loss of 16.18% and the S&P 500’s loss of 12.13%.
Analysts and investors alike will be keeping a close eye on the performance of Itron in its upcoming earnings disclosure. 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. Simultaneously, our latest consensus estimate expects the revenue to be $614.27 million, showing a 1.8% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.40 per share and revenue of $2.46 billion, indicating changes of -3.91% and +0.61%, respectively, compared to the previous 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. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.47% higher. Itron currently has a Zacks Rank of #2 (Buy).
From a valuation perspective, Itron is currently exchanging hands at a Forward P/E ratio of 17.55. This signifies a discount in comparison to the average Forward P/E of 19.45 for its industry.
It is also worth noting that ITRI currently has a PEG ratio of 0.61. 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. ITRI’s industry had an average PEG ratio of 2.09 as of yesterday’s close.
The Electronics – Testing Equipment industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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