Itron (ITRI) closed the most recent trading day at $80.07, moving -1.21% from the previous trading session. This change was narrower than the S&P 500's 2.65% loss on the day. Elsewhere, the Dow lost 1.35%, while the tech-heavy Nasdaq lost 4.18%.
The stock of energy and water meter company has fallen by 0.11% in the past month, lagging the Computer and Technology sector's gain of 10.37% and the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Itron in its upcoming release. The company is expected to report EPS of $1.31, down 19.14% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $564.72 million, indicating a 6.93% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.01 per share and a revenue of $2.38 billion, indicating changes of -15.71% and +0.34%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Itron. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.02% lower. Itron presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Itron is at present trading with a Forward P/E ratio of 13.49. This valuation marks a discount compared to its industry average Forward P/E of 24.43.
Investors should also note that ITRI has a PEG ratio of 0.71 right now. 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 Electronics - Testing Equipment industry currently had an average PEG ratio of 3.21 as of yesterday's close.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 22, placing it within the top 10% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Itron, Inc. (ITRI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).