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Itron (ITRI), Schneider Electric to Advance Grid Management

Itron ITRI announced a collaboration with Schneider Electric to enhance energy and grid management for utilities amid the growing adoption of distributed energy resources (DER) such as rooftop solar, battery storage, and electric vehicles at the grid's edge.

The collaboration aims to address the increased electricity demand driven by factors like transportation and heating electrification. Itron’s Grid Edge Intelligence solutions will be combined with Schneider’s Digital Grid solutions to digitize electricity demand and supply, aiming to optimize grid planning and operations.

The collaboration will improve asset management, grid planning, and operations by capitalizing on the data generated by DER. This will help utilities to enhance grid capacity without immediate infrastructure investments.

Itron, Inc. Price and Consensus

Itron, Inc. Price and Consensus
Itron, Inc. Price and Consensus

Itron, Inc. price-consensus-chart | Itron, Inc. Quote

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Utilities can leverage Itron's IIoT network solution to gather usage and status data for greater real-time insights. The combination of distributed and centralized intelligence will allow grid operators to proactively manage grid constraints, including outages and climate-related risks.

Itron expects increased demand for electric vehicles and distributed energy resource management to drive customer bookings. By the end of third-quarter 2023, the company noted that it had more than 8 million deployed units for DI-capable endpoints. The company continues to launch product offerings to improve utility data management.

Recently, the company introduced a cloud-based Meter Data Management platform, Itron Enterprise Edition (IEE) Cloud, which is designed to meet the evolving needs of utilities amid ongoing digitalization.

IEE Cloud allows utilities to customize processes without constant maintenance and easily integrate new capabilities like revenue assurance and transformer load management amid rising grid complexity driven by the energy transition, extreme weather and increased consumer demand.

Currently, Itron carries a Zacks Rank #3 (Hold). Itron’s shares have rallied 35% in the past year compared with 8.1% growth of the sub-industry.

Zacks Investment Research
Zacks Investment Research


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Stocks to Consider

Some better-ranked stocks worth considering in the broader technology space are Cadence Design Systems CDNS, Woodward WWD and Watts Water Technologies WTS. Cadence and Woodward sport a Zacks Rank #1 (Strong Buy), while Watts Water Technologies carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Cadence’s 2024 EPS has improved 1.9% in the past 60 days to $5.87. CDNS’s long-term earnings growth rate is 17.1%.

Cadence’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 3.4%. Shares of CDNS have gained 49.9% in the past year.

The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has inched up 5.7% in the past 60 days to $5.20. WWD’s long-term earnings growth rate is 15.5%.

Woodward’s earnings beat the Zacks Consensus in each of the last four quarters, the average surprise being 27.2%. Shares of WWD have gained 38.5% in the past year.

The Zacks Consensus Estimate for Watts Water Technologies fiscal 2024 EPS has improved 0.4% in the past 60 days to $8.35. WTS’s long-term earnings growth rate is 7.8%.

WTS’ earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 13.5%. Shares of WTS have soared 12.6% in the past year.

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

Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report

Watts Water Technologies, Inc. (WTS) : Free Stock Analysis Report

Woodward, Inc. (WWD) : Free Stock Analysis Report

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