Itron (ITRI) stock closed down, underperforming the market, with positive earnings and revenue predictions.

From Nasdaq: 2024-06-07 18:00:11

Itron (ITRI) closed at $107.15, down 0.83% from the prior day, underperforming the S&P 500, Dow, and Nasdaq. The stock has dropped 0.45% in the past month, while the Computer and Technology sector gained 6.52% and the S&P 500 gained 3.51%.

In the upcoming release, Itron is predicted to post an EPS of $0.94, up 44.62% YoY, with quarterly revenue of $599.02 million, up 10.71%. Full-year estimates project earnings of $4 per share and revenue of $2.36 billion, up 19.05% and 8.78% respectively.

Itron’s Zacks Rank of #3 (Hold) comes with a Forward P/E ratio of 27, trading at a premium to the industry average. The Electronics – Testing Equipment industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 200, placing it in the bottom 21%.

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Read more at Nasdaq: Here’s Why Itron (ITRI) Fell More Than Broader Market