Itron (ITRI) Dips More Than Broader Market: What You Should Know

In the latest trading session, Itron (ITRI) closed at $101.24, marking a -1.85% move from the previous day. This change lagged the S&P 500's 0.05% loss on the day. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.Heading into today, shares of the energy and water meter company had lost 3.8% over the past month, lagging the Computer and Technology sector's gain of 3.5% and the S&P 500's gain of 2.76% in that time.The investment community will be closely monitoring the performance of Itron in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2024. The company's upcoming EPS is projected at $1.13, signifying a 15.31% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $596.21 million, indicating a 6.32% growth compared to the corresponding quarter of the prior year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.58 per share and a revenue of $2.41 billion, indicating changes of +36.31% and +10.73%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Itron. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 witnessed a 0.15% decrease. Itron is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, Itron is holding a Forward P/E ratio of 22.52. For comparison, its industry has an average Forward P/E of 25.57, which means Itron is trading at a discount to the group.We can additionally observe that ITRI currently boasts a PEG ratio of 0.87. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Testing Equipment industry had an average PEG ratio of 2.58.The Electronics - Testing Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% 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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Infrastructure Stock Boom to Sweep AmericaA massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks