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Itron (ITRI) Stock Moves -0.43%: What You Should Know
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The most recent trading session ended with Itron (ITRI - Free Report) standing at $102.50, reflecting a -0.43% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.78% loss on the day. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Shares of the energy and water meter company witnessed a gain of 0.08% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.17% and underperforming the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of Itron in its upcoming release. The company plans to announce its earnings on August 1, 2024. On that day, Itron is projected to report earnings of $0.96 per share, which would represent year-over-year growth of 47.69%. At the same time, our most recent consensus estimate is projecting a revenue of $599.9 million, reflecting a 10.87% rise from the equivalent quarter last year.
ITRI's full-year Zacks Consensus Estimates are calling for earnings of $4.10 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +22.02% and +9.66%, respectively.
Investors might also notice recent changes to analyst estimates for Itron. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 2.39% increase. As of now, Itron holds a Zacks Rank of #2 (Buy).
In terms of valuation, Itron is currently trading at a Forward P/E ratio of 25.13. For comparison, its industry has an average Forward P/E of 25.56, which means Itron is trading at a discount to the group.
Also, we should mention that ITRI has a PEG ratio of 0.97. 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 2.81 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 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Itron (ITRI) Stock Moves -0.43%: What You Should Know
The most recent trading session ended with Itron (ITRI - Free Report) standing at $102.50, reflecting a -0.43% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.78% loss on the day. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Shares of the energy and water meter company witnessed a gain of 0.08% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.17% and underperforming the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of Itron in its upcoming release. The company plans to announce its earnings on August 1, 2024. On that day, Itron is projected to report earnings of $0.96 per share, which would represent year-over-year growth of 47.69%. At the same time, our most recent consensus estimate is projecting a revenue of $599.9 million, reflecting a 10.87% rise from the equivalent quarter last year.
ITRI's full-year Zacks Consensus Estimates are calling for earnings of $4.10 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +22.02% and +9.66%, respectively.
Investors might also notice recent changes to analyst estimates for Itron. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 2.39% increase. As of now, Itron holds a Zacks Rank of #2 (Buy).
In terms of valuation, Itron is currently trading at a Forward P/E ratio of 25.13. For comparison, its industry has an average Forward P/E of 25.56, which means Itron is trading at a discount to the group.
Also, we should mention that ITRI has a PEG ratio of 0.97. 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 2.81 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 65, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.