Itron (ITRI) ended the recent trading session at $103.91, demonstrating a +0.76% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.91% for the day. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.

Coming into today, shares of the energy and water meter company had gained 5.5% in the past month. In that same time, the Computer and Technology sector lost 10.57%, while the S&P 500 lost 7.38%.

Investors will be eagerly watching for the performance of Itron in its upcoming earnings disclosure. The company is expected to report EPS of $1.28, up 3.23% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $614.72 million, up 1.87% from the prior-year quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.27 per share and a revenue of $2.46 billion, signifying shifts of -6.23% and +0.68%, respectively, from the last year.

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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 12.19% rise in the Zacks Consensus EPS estimate. 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 19.56. This denotes a discount relative to the industry's average Forward P/E of 22.17.

Also, we should mention that ITRI has a PEG ratio of 0.67. 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. The Electronics - Testing Equipment industry currently had an average PEG ratio of 2.41 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 171, placing it within the bottom 32% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.

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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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