Advertisement
UK markets closed
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • CRUDE OIL

    82.84
    +1.49 (+1.83%)
     
  • GOLD FUTURES

    2,239.50
    +26.80 (+1.21%)
     
  • DOW

    39,772.02
    +11.94 (+0.03%)
     
  • Bitcoin GBP

    56,013.68
    +1,300.39 (+2.38%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    16,381.46
    -18.06 (-0.11%)
     
  • UK FTSE All Share

    4,338.05
    +12.12 (+0.28%)
     

Itron (ITRI) Inks Deal With NWL to Implement DTM Solution

Itron, Inc. ITRI has signed a contract with Network Waitaki Limited (NWL) to deploy the Distribution Transformer Monitoring (DTM) solution of the former. Financial details of the deal remain undisclosed.

NWL is an electricity lines company which distributes electricity from the national grid to consumers' properties in New Zealand. Per the contract, NWL will utilize Itron’s cloud-based Software-as-a-Service (SaaS) applications for operating the DTM solution.

Itron’s DTM solution provides timely and detailed visibility of distribution transformers, facilitating NWL to manage transformer performance and lifecycle based on actual operational conditions. It will also increase NWL’s network awareness, optimize capital investments and improve system reliability.

Itron, Inc. Price, Consensus and EPS Surprise

 

Itron, Inc. Price, Consensus and EPS Surprise | Itron, Inc. Quote

ADVERTISEMENT

Itron booked two new contracts after posting first-quarter 2018 results on May 14. Other than the aforementioned deal, the company entered into an agreement with Mississippi Power — a subsidiary of Southern Company SO. Itron will deploy and manage its standards-based Gen5 IPv6 network platform to connect about 193,000 advanced metering infrastructure (AMI) devices to help improve operational efficiencies, and increase grid reliability for Mississippi Power customers.

Notably, Itron expects strong customer demand for its expanded portfolio of smart networks, software, services, meters and sensors, which will help customers better manage utility and municipal services.

These contracts will assist Itron’s backlog strength and in turn drive the top line. During the first quarter, the company’s backlog came in at $3.1 billion, which increased a whopping 94% year over year, including the addition of the acquired Networks segment backlog.

Share Price Performance

Over the past year, Itron has underperformed the industry with respect to price performance mainly due to elevated expense. The stock has lost around 4%, while the industry recorded growth of 20% during the same time frame.



Zacks Rank & Key Picks

Itron currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the same sector include Citrix Systems, Inc. CTXS and Nanometrics Incorporated NANO. Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Citrix Systems has a long-term earnings growth rate of 9.1%. The stock has appreciated 28% in a year’s time.

Nanometrics has a long-term earnings growth rate of 12%. The company’s shares have been up 40% during the past year.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want 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
 
Southern Company (The) (SO) : Free Stock Analysis Report
 
Citrix Systems, Inc. (CTXS) : Free Stock Analysis Report
 
Nanometrics Incorporated (NANO) : Free Stock Analysis Report
 
Itron, Inc. (ITRI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research