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Why Itron (ITRI) Dipped More Than Broader Market Today
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Itron (ITRI - Free Report) closed at $92.86 in the latest trading session, marking a -1.45% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.74% for the day. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.76%.
Shares of the energy and water meter company witnessed a loss of 2.5% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.14%, and the S&P 500's gain of 0.79%.
Investors will be eagerly watching for the performance of Itron in its upcoming earnings disclosure. In that report, analysts expect Itron to post earnings of $2.19 per share. This would mark year-over-year growth of 62.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $561.79 million, down 8.33% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.87 per share and a revenue of $2.36 billion, representing changes of +22.24% and -3.42%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Itron. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Itron boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 13.73. This denotes a discount relative to the industry average Forward P/E of 24.67.
Investors should also note that ITRI has a PEG ratio of 0.46 right now. 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. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.95.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 19, this industry ranks in the top 8% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Why Itron (ITRI) Dipped More Than Broader Market Today
Itron (ITRI - Free Report) closed at $92.86 in the latest trading session, marking a -1.45% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.74% for the day. Meanwhile, the Dow experienced a drop of 0.63%, and the technology-dominated Nasdaq saw a decrease of 0.76%.
Shares of the energy and water meter company witnessed a loss of 2.5% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.14%, and the S&P 500's gain of 0.79%.
Investors will be eagerly watching for the performance of Itron in its upcoming earnings disclosure. In that report, analysts expect Itron to post earnings of $2.19 per share. This would mark year-over-year growth of 62.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $561.79 million, down 8.33% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.87 per share and a revenue of $2.36 billion, representing changes of +22.24% and -3.42%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Itron. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Itron boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 13.73. This denotes a discount relative to the industry average Forward P/E of 24.67.
Investors should also note that ITRI has a PEG ratio of 0.46 right now. 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. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.95.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 19, this industry ranks in the top 8% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.