We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Itron (ITRI) Stock Soars 41% YTD: Will the Uptrend Last?
Read MoreHide Full Article
Itron (ITRI - Free Report) is witnessing strong momentum this year with shares having gained 40.8% year to date compared with the sub-industry’s growth of 5.2% and S&P Composite’s rise of 14.7%.
Headquartered in Liberty Lake, WA, Itron is one of the leading global suppliers of a wide range of standard, advanced and smart meters, and meter communication systems. It also provides networks and communication modules, software, services and sensors for effective management of electricity, gas and water resources for consumers.
Itron's top-line performance is benefiting from higher software license sales and easing supply-chain issues along with strong operational execution. Network solutions business segment benefits from ramp of new and existing deployments. The company is likely to gain from secular growth trends of electrification, higher investment in critical infrastructure to improve reliability and growth of distributed energy resources amid increasing awareness regarding climate change.
Image Source: Zacks Investment Research
ITRI recently announced the expansion of its distributed intelligence platform by launching its latest Edge Gateway product line. This new product line will help utilities to achieve decarbonization and sustainability goals, manage critical infrastructure and support the growing adoption of distributed energy resources.
Also, the company’s extensive restructuring efforts to cut down on overhead expenses and streamline its supply chain and manufacturing operations bode well. Strategic collaboration and frequent product launches augur well.
Itron’s revenues are expected to increase 13.3% and 11.1% on a year-over-year basis in 2023 and 2024, respectively. The bottom line is anticipated to rise 30.1% and 63.8% on a year-over-year basis in 2023 and 2024, respectively. The Zacks Consensus Estimate for 2023 and 2024 earnings per share is pegged at $1.47 and $2.41, up 58% and 12.1%, respectively, in the past 60 days. ITRI has delivered an earnings surprise of 222%, on average, in the trailing four quarters.
Notably, Itron currently carries a Zacks Rank #2 (Buy).
Apart from a favorable rank, ITRI has a VGM Score of B. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 (Strong Buy) or 2 and a VGM Score of A or B offer solid investment opportunities.
However, weakness in Device Solutions segment owing to product pruning and sale of the company’s C&I gas business are weighing on ITRI’s performance. Rising operating expenses coupled with uncertain global macroeconomic conditions and supply-chain dynamics are major headwinds. Leveraged balance sheet, higher component costs and stiff competition are added concerns.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 17.9% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has improved 1.5% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 91.2% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has gained 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of BLKB have jumped 21.8% in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Itron (ITRI) Stock Soars 41% YTD: Will the Uptrend Last?
Itron (ITRI - Free Report) is witnessing strong momentum this year with shares having gained 40.8% year to date compared with the sub-industry’s growth of 5.2% and S&P Composite’s rise of 14.7%.
Headquartered in Liberty Lake, WA, Itron is one of the leading global suppliers of a wide range of standard, advanced and smart meters, and meter communication systems. It also provides networks and communication modules, software, services and sensors for effective management of electricity, gas and water resources for consumers.
Itron's top-line performance is benefiting from higher software license sales and easing supply-chain issues along with strong operational execution. Network solutions business segment benefits from ramp of new and existing deployments. The company is likely to gain from secular growth trends of electrification, higher investment in critical infrastructure to improve reliability and growth of distributed energy resources amid increasing awareness regarding climate change.
Image Source: Zacks Investment Research
ITRI recently announced the expansion of its distributed intelligence platform by launching its latest Edge Gateway product line. This new product line will help utilities to achieve decarbonization and sustainability goals, manage critical infrastructure and support the growing adoption of distributed energy resources.
Also, the company’s extensive restructuring efforts to cut down on overhead expenses and streamline its supply chain and manufacturing operations bode well. Strategic collaboration and frequent product launches augur well.
Itron’s revenues are expected to increase 13.3% and 11.1% on a year-over-year basis in 2023 and 2024, respectively. The bottom line is anticipated to rise 30.1% and 63.8% on a year-over-year basis in 2023 and 2024, respectively. The Zacks Consensus Estimate for 2023 and 2024 earnings per share is pegged at $1.47 and $2.41, up 58% and 12.1%, respectively, in the past 60 days. ITRI has delivered an earnings surprise of 222%, on average, in the trailing four quarters.
Notably, Itron currently carries a Zacks Rank #2 (Buy).
Apart from a favorable rank, ITRI has a VGM Score of B. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 (Strong Buy) or 2 and a VGM Score of A or B offer solid investment opportunities.
However, weakness in Device Solutions segment owing to product pruning and sale of the company’s C&I gas business are weighing on ITRI’s performance. Rising operating expenses coupled with uncertain global macroeconomic conditions and supply-chain dynamics are major headwinds. Leveraged balance sheet, higher component costs and stiff competition are added concerns.
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Dropbox (DBX - Free Report) , Badger Meter (BMI - Free Report) and Blackbaud (BLKB - Free Report) . Dropbox and Blackbaud presently sport a Zacks Rank #1 while Badger Meter carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 17.9% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has improved 1.5% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have surged 91.2% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has gained 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of BLKB have jumped 21.8% in the past year.