Itron (ITRI) closed the latest trading day at $105.82, indicating a -0.35% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.55% for the day. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.7%.

Shares of the energy and water meter company witnessed a gain of 0.09% over the previous month, beating the performance of the Computer and Technology sector with its loss of 8.51% and the S&P 500's loss of 5.56%.

Market participants will be closely following the financial results of Itron in its upcoming release. The company's upcoming EPS is projected at $1.28, signifying a 3.23% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $614.72 million, showing a 1.87% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.23 per share and revenue of $2.46 billion, indicating changes of -6.94% and +0.68%, respectively, compared to the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Itron. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 11.46% rise in the Zacks Consensus EPS estimate. Itron currently has a Zacks Rank of #2 (Buy).

Investors should also note Itron's current valuation metrics, including its Forward P/E ratio of 20.31. This signifies a discount in comparison to the average Forward P/E of 23.03 for its industry.

One should further note that ITRI currently holds a PEG ratio of 0.7. 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 was holding an average PEG ratio of 2.51 at yesterday's closing price.

The Electronics - Testing Equipment industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 36% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Itron, Inc. (ITRI) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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