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Itron (ITRI) Beats Stock Market Upswing: What Investors Need to Know

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In the latest trading session, Itron (ITRI - Free Report) closed at $132.78, marking a +1.17% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.8%. Meanwhile, the Dow gained 0.94%, and the Nasdaq, a tech-heavy index, added 0.97%.

Coming into today, shares of the energy and water meter company had gained 15.86% in the past month. In that same time, the Computer and Technology sector gained 8.5%, while the S&P 500 gained 5.12%.

Market participants will be closely following the financial results of Itron in its upcoming release. In that report, analysts expect Itron to post earnings of $1.33 per share. This would mark year-over-year growth of 9.92%. Alongside, our most recent consensus estimate is anticipating revenue of $609.26 million, indicating a 0.03% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $5.45 per share and a revenue of $2.46 billion, demonstrating changes of -3.02% and +0.76%, respectively, from the preceding year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Itron. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.

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. The Zacks Consensus EPS estimate has moved 0.27% higher within the past month. At present, Itron boasts a Zacks Rank of #3 (Hold).

Investors should also note Itron's current valuation metrics, including its Forward P/E ratio of 24.08. This denotes a discount relative to the industry average Forward P/E of 24.57.

Investors should also note that ITRI has a PEG ratio of 0.83 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ITRI's industry had an average PEG ratio of 2.67 as of yesterday's close.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 40% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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