In the latest trading session, Itron (ITRI) closed at $80.73, marking a +1.31% move from the previous day. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow saw an upswing of 1.86%, while the tech-heavy Nasdaq appreciated by 2.54%.
Heading into today, shares of the energy and water meter company had lost 3.09% over the past month, outpacing the Computer and Technology sector's loss of 3.11% and lagging the S&P 500's loss of 1.63%.
The upcoming earnings release of Itron will be of great interest to investors. The company is forecasted to report an EPS of $1.31, showcasing a 19.14% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $564.72 million, down 6.93% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.01 per share and a revenue of $2.38 billion, signifying shifts of -15.71% and +0.34%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Itron. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% downward. Itron currently has a Zacks Rank of #3 (Hold).
Investors should also note Itron's current valuation metrics, including its Forward P/E ratio of 13.26. This indicates a discount in contrast to its industry's Forward P/E of 23.77.
It is also worth noting that ITRI currently has a PEG ratio of 0.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Electronics - Testing Equipment was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Itron, Inc. (ITRI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).