Itron
ITRI
will work with Gainesville Regional Utilities (“GRU”) to upgrade the latter’s utility infrastructure. Itron’s multi-purpose industrial IoT (IIoT) network solution will be used for the upgrade amid GRU’s ongoing digital transformation. The utility company is planning to implement Itron’s solutions across its service territory in Gainesville and adjacent areas.
Itron’s IIoT network solution comprises smart Gen 5 500W water and Gen 5 500G gas communication modules and Gen 5 Riva Distributed Intelligence enabled electric smart meters.
GRU will also utilize Itron’s Enterprise Edition Meter Data Management solution, which is delivered as a Software-as-a-Service for meter and sensor data management. Itron’s solutions will enable the utility company to collect data electronically on a daily basis compared with manual collection every month and reduce data collection costs. The solution will also benefit GRU’s customers by lowering bills via online monitoring of utility usage, added Itron.
Utilizing these solutions, GRU is looking to boost operational efficiency, improve data collection methods and augment customer service.
Itron’s solutions continue to gain significant traction.
Recently
, Itron teamed up with Singapore’s national water agency – PUB – to deploy the company’s IIoT network canopy under PUB’s Smart Water Meter Program. PUB will be leveraging the existing network canopy of SP Group. SP Group, Singapore’s national electricity and gas network operator, will also be managing the deployment for PUB.
Itron also collaborated with Baltimore Gas & Electric to deploy 260,000 Itron smart streetlights to lower energy consumption.
Itron is one of the major suppliers of a broad array of standard, advanced and smart meters, and meter communication systems, including networks and communication modules, sensors, data analytics and services, and software and devices globally.
The company plans to expand its global presence in the utility sector with numerous collaborations.
The company expects increased demand for electric vehicles and distributed energy resource management to drive customer bookings. In the last reported quarter, the company’s bookings were $578 million. The company continues to build up its inventory to improve backlog conversion and is focusing on boosting its operational footprint through its asset-light strategy.
Despite a robust customer demand environment Itron’s performance, at present, is being affected due to unexpected supplier decommitments, inadequate component deliveries and the irregular timing of crucial components arriving at the company’s factories. Softness across all business segments and the company’s exit from select product lines in the Device Solutions segment are additional headwinds.
Itron currently has a Zacks Rank #4 (Sell). Shares of ITRI have lost 20.8% compared with the
sub-industry’
s decline of 14.7% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks worth consideration from the broader technology space are
Arista Networks
ANET
,
Blackbaud
BLKB
and
Plexus
PLXS
. Arista Networks and Plexus currently sport a Zacks Rank #1 (Strong Buy), while Blackbaud 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 Arista Networks’ 2022 earnings is pegged at $4.37 per share, up 8.2% in the past 60 days. The long-term earnings growth rate is anticipated at 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have decreased 7.5% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2022 earnings is pegged at $2.59 per share, up 1.6% in the past 60 days. The long-term earnings growth rate is anticipated at 4%.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.9%. Shares of BLKB have declined 26.7% in the past year.
The Zacks Consensus Estimate for Plexus’ fiscal 2023 earnings is pegged at $5.98 per share, up 8.9% in the past 60 days.
Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 17.5%. Shares of PLXS have increased 12.8% in the past year.
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