Itron (ITRI) Outperforms Broader Market: What You Need to Know

Itron (ITRI) closed the most recent trading day at $110.29, moving +1.62% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.26%. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.77%.Heading into today, shares of the energy and water meter company had lost 6.28% over the past month, lagging the Computer and Technology sector's gain of 0.84% and the S&P 500's loss of 2.82% in that time.The upcoming earnings release of Itron will be of great interest to investors. On that day, Itron is projected to report earnings of $1.05 per share, which would represent a year-over-year decline of 14.63%. Simultaneously, our latest consensus estimate expects the revenue to be $603.61 million, showing a 4.58% escalation compared to the year-ago quarter.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Itron currently has a Zacks Rank of #2 (Buy).In the context of valuation, Itron is at present trading with a Forward P/E ratio of 22.26. This denotes a discount relative to the industry's average Forward P/E of 23.99.It's also important to note that ITRI currently trades at a PEG ratio of 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Electronics - Testing Equipment industry held an average PEG ratio of 2.23.The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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