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Itron (ITRI) Stock Sinks As Market Gains: Here's Why
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Itron (ITRI - Free Report) closed at $89.66 in the latest trading session, marking a -2.03% move from the prior day. This change lagged the S&P 500's 0.51% gain on the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 0.48%.
Heading into today, shares of the energy and water meter company had lost 7.81% over the past month, lagging the Computer and Technology sector's gain of 6.54% and the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Itron in its upcoming release. The company is forecasted to report an EPS of $1.57, showcasing a 1.95% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $596.45 million, indicating a 2.55% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.41 per share and a revenue of $2.39 billion, signifying shifts of -10.1% and +0.87%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Itron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Itron is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 14.28. Its industry sports an average Forward P/E of 24.06, so one might conclude that Itron is trading at a discount comparatively.
Meanwhile, ITRI's PEG ratio is currently 1.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Testing Equipment industry stood at 2.3 at the close of the market yesterday.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 9, this industry ranks in the top 4% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Itron (ITRI) Stock Sinks As Market Gains: Here's Why
Itron (ITRI - Free Report) closed at $89.66 in the latest trading session, marking a -2.03% move from the prior day. This change lagged the S&P 500's 0.51% gain on the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 0.48%.
Heading into today, shares of the energy and water meter company had lost 7.81% over the past month, lagging the Computer and Technology sector's gain of 6.54% and the S&P 500's gain of 0.74%.
The investment community will be paying close attention to the earnings performance of Itron in its upcoming release. The company is forecasted to report an EPS of $1.57, showcasing a 1.95% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $596.45 million, indicating a 2.55% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.41 per share and a revenue of $2.39 billion, signifying shifts of -10.1% and +0.87%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Itron. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Itron is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Itron is presently being traded at a Forward P/E ratio of 14.28. Its industry sports an average Forward P/E of 24.06, so one might conclude that Itron is trading at a discount comparatively.
Meanwhile, ITRI's PEG ratio is currently 1.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Electronics - Testing Equipment industry stood at 2.3 at the close of the market yesterday.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 9, this industry ranks in the top 4% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.