Itron (ITRI) closed at $87.79 in the latest trading session, marking a +1.48% move from the prior day. This change outpaced the S&P 500's 0.66% gain on the day. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.05%.
The stock of energy and water meter company has fallen by 10.82% in the past month, lagging the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 0.55%.
The upcoming earnings release of Itron will be of great interest to investors. The company's upcoming EPS is projected at $1.57, signifying a 1.95% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $596.45 million, showing a 2.55% escalation compared to the year-ago quarter.
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.
Any recent changes to analyst estimates for Itron should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 past month, the Zacks Consensus EPS estimate remained stagnant. Itron is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Itron is currently trading at a Forward P/E ratio of 13.5. This denotes a discount relative to the industry average Forward P/E of 24.05.
One should further note that ITRI currently holds a PEG ratio of 1.04. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Testing Equipment was holding an average PEG ratio of 2.31 at yesterday's closing price.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 19, positioning it in the top 8% of all 250+ industries.
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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Itron, Inc. (ITRI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).