Itron (ITRI) Rises Higher Than Market: Key Facts

Zacks Equity Research
·3-min read

The most recent trading session ended with Itron (ITRI) standing at $99.42, reflecting a +1.59% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.3%.

The energy and water meter company's stock has dropped by 9.6% in the past month, falling short of the Computer and Technology sector's gain of 6.18% and the S&P 500's gain of 3.38%.

Analysts and investors alike will be keeping a close eye on the performance of Itron in its upcoming earnings disclosure. On that day, Itron is projected to report earnings of $0.94 per share, which would represent year-over-year growth of 44.62%. Meanwhile, the latest consensus estimate predicts the revenue to be $599.02 million, indicating a 10.71% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4 per share and a revenue of $2.36 billion, indicating changes of +19.05% and +8.78%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications 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 company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 moved 1.29% higher. As of now, Itron holds a Zacks Rank of #3 (Hold).

In the context of valuation, Itron is at present trading with a Forward P/E ratio of 24.46. This valuation marks a discount compared to its industry's average Forward P/E of 24.91.

Also, we should mention that ITRI has a PEG ratio of 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Testing Equipment industry currently had an average PEG ratio of 2.67 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 66, placing it within the top 27% of over 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.

To follow ITRI in the coming trading sessions, be sure to utilize Zacks.com.

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

To read this article on Zacks.com click here.

Zacks Investment Research

  • Up next
  • Up next
  • Up next
  • Up next

Latest stories

  • New inflation reading offers hope for Fed rate cuts later this year

    The Fed got another positive signal that inflation is easing after running hotter-than-expected in the first quarter, but the central bank still likely needs more time before cuts can begin in 2024.

  • Broadcom (AVGO) Up 42.1% in 2024: Is it Worth Watching?

    Broadcom's stock is widely beating the performance of its sector in 2024, and market participants should keep a close watch.

  • Top Stocks to Consider After Cooler PCE Data

    On Friday, Core PCE, the Fed's preferred inflationary measure optimistically reflected a 0.1% uptick in May compared to a 0.3% increase in April.

  • Is Kirby (KEX) Stock Outpacing Its Transportation Peers This Year?

    Here is how Kirby (KEX) and Matson (MATX) have performed compared to their sector so far this year.

  • Best Income Stocks to Buy for June 28th

    DBSDY, IP and AGRO made it to the Zacks Rank #1 (Strong Buy) income stocks list on June 28, 2024.

  • Former Mothercare boss spearheads The Body Shop rescue bid

    The former boss of Mothercare is spearheading a daring rescue bid for what remains of The Body Shop’s stricken high street operations.

  • New Strong Sell Stocks for June 28th

    DOOO, CNM and ARCO have been added to the Zacks Rank #5 (Strong Sell) List on June 28, 2024.

  • Stocks closer lower despite cooling inflation data

    The major indexes (^DJI,^GSPC, ^IXIC) closed lower on Friday. Both the S&P 500 and Nasdaq Composite have closed higher 7 of the prior 9 months, with the Nasdaq also closing higher 9 of the prior 10 weeks. Friday's close also marks the end of both the second quarter and the first half of the year. Traders had a lot to grapple with in the day's trading, including cooling inflation data and better-than-expected consumer sentiment data.  Julie Hyman and Jared Blikre recap the day's market action. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Stephanie Mikulich.

  • Stocks rise after cool inflation data feeds into rate cut hopes

    The three major indexes (^DJI,^GSPC, ^IXIC) rose slightly after Friday's market open. The core Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, rose 0.1% in May from April, which was in line with expectations and slower than April's 0.3% increase. The cooler read is bolstering traders' hopes that the Fed will cut rates sooner rather than later. Brad Smith, Seana Smith, and Jared Blikre recap the market action at the open.  For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich.

  • 3 Top-Ranked Mutual Funds for Your Retirement

    Adding these three top-ranked, best-performing, and well-managed mutual funds to your retirement portfolio could maximize your returns.

  • Here's Why You Should Give Schneider (SNDR) Stock a Miss Now

    For 2024, Schneider (SNDR) decreases its adjusted earnings per share guidance to the range of $0.85-$1.00 from the previously guided range of $1.15-$1.30.

  • The other reason EV stock prices matter: Chart of the Week

    Rivian and VW announced a joint project this week, with the former receiving $5 billion in investment. This allays investor concerns about the EV maker — and consumer ones as well. When you buy a car, you want the company to stick around.

  • Earnings expectations are 'too rosy,' but recession is unlikely

    Ned Davis Research chief US strategist Ed Clissold joins Market Domination Overtime to give insight into recent economic data, share takeaways from the first half of the year, and make predictions about the market moving forward. Clissold notes that a recession is not a scenario that he foresees: "Now I mentioned earlier earnings expectations second half probably a little bit too rosy. Consensus estimates about 20% for Q3 and Q4 versus the previous year. It's probably more like high single digits to low double digits. So there'll be some downward revisions," he notes. He adds that the "bigger risk" is that after a strong first half of the year, "a lot of people are in the market. So a little bit of bad news could cause a pullback, but we'd be looking for a pullback to maybe a small correction. Not necessarily a bear market. " For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino

  • Why Virtus Investment Partners (VRTS) is a Great Dividend Stock Right Now

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Virtus Investment Partners (VRTS) have what it takes? Let's find out.

  • PCE data was 'the best one can expect': Economist

    The latest Personal Consumption Expenditures (PCE) data for May came in line with analyst expectations, with a reading of 2.6%. To understand the implications for future Federal Reserve rate cuts, BMO senior economist and managing director Jennifer Lee joins Morning Brief to offer her insights. Lee describes the PCE data as "the best one can expect," suggesting it should bolster the Fed's confidence in easing monetary policy. She notes a "softness" in services spending, which she views positively as it may help cool the previously sticky services inflation. Despite this, Lee observes that consumers continue to spend on discretionary items. Based on this report, Lee anticipates a potential Fed rate cut in September. She explains, "Over the next couple of months, we'll accumulate more inflationary data. This PCE report is one of the more significant pieces we've seen since the May CPI. We need to see all inflation indicators aligning, which will give the Fed the comfort and confidence to start cutting rates in September." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

  • Jirnexu set to acquire MoneyHero’s Malaysian arm, CompareHero

    KUALA LUMPUR, June 29 — In a strategic move, Jirnexu Sdn Bhd, the parent company of RinggitPlus, announced today its acq...

  • Global stocks mixed as elections heat up

    Equity markets were mixed Friday as investors assessed fallout from a bumpy US presidential debate and looked ahead to weekend elections in France that could boost the far right."We don't think Biden's disastrous performance at last night's debate will have a material impact on markets in the short term," said Kathleen Brooks, research director at XTB. "The election is still many months away and a lot could change."

  • Tour bus accident in Genting Highlands: Two Chinese nationals killed, 19 rescued (VIDEO)

    KUALA LUMPUR, June 29 — Two Chinese nationals were killed while 19 others were rescued after their tour bus overturned a...

  • An Indian military tank sinks while crossing a river in a region bordering China, killing 5 soldiers

    Five Indian soldiers were killed when a military tank they were travelling in sank while crossing a river in the remote region of Ladakh that borders China, officials said Saturday. The tank sank early Saturday due to sudden increase in the water levels of Shyok River during a military training activity, according to an Indian army command center statement. It said the accident took place in Saser Brangsa near the Line of Actual Control that divides India and China in the Ladakh region.

  • Lauren Sánchez Rocks an Itsy Bitsy Gold Bikini While Jet Skiing with Jeff Bezos

    She and her fiancé have reportedly been in Greece for a few weeks