Itron Inc’
s
ITRI
Temetra solution is gaining traction among utility companies. Temetra is the company’s cloud-based mobile meter data collection and management solution. The solution is designed to aid utility companies to gain access and modify meter data and assignments from anywhere through a web login, thereby eliminating the need to maintain local software installation.
Recently, Temetra was leveraged by Australia-based Energy Queensland to read meters for its 2.3 million strong user base stretched across rural and urban locations.
Temetra will aid in optimizing operations and enhancing route optimization and meter reading efficiencies for Energy Queensland. The solution will also enable utilities to accumulate, upload and store the meter data in real-time. Utilities can use analytics functionality to track and streamline their workload and meter routes using real-time data.
Employee safety is enhanced as the GIS-based data collection Android app sends hazard warnings and potential danger alerts before moving toward an electric meter.
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.
In May 2022, Itron
expanded
its long-standing collaboration with
Microsoft
MSFT
to enable utility and smart cities industries to ramp up cloud migration and implement advanced consumer and grid edge solutions. The partnership with Microsoft will focus on development of joint solutions for utility companies and help them tackle pressing concerns like carbon tracking, emissions, zero-carbon goals, clean energy matching and data accessibility.
By collaborating with Microsoft, Itron is also working on extending its Advanced Metering Infrastructure data management and analytics solutions to the cloud in all major global markets.
However, pandemic-induced supply chain troubles and component shortages are limiting the company’s ability to capitalise on the robust customer demand. Sluggishness in the Device Solutions and Networked Solutions segment was a major concern. In the last reported quarter, revenues of $475.3 million declined 9% year over year.
Itron currently has a Zacks Rank #3 (Hold). Shares of ITRI have lost 51.2% against the
industry
’s decline of 24.9% in the past year.
Stocks to Consider
Some better-ranked stocks from the broader technology sector worth consideration are
InterDigital
IDCC
and
PTC
PTC
. Both stocks sport a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for InterDigital 2022 earnings is pegged at $3.33 per share, up 46.1% in the past 60 days. IDCC’s long-term earnings growth rate is pegged at 15%.
InterDigital’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, with the average being 141.1%. Shares of IDCC have lost 15.4% of their value in the past year.
The Zacks Consensus Estimate for PTC’s fiscal 2022 earnings is pegged at $4.55 per share, rising 2.9% in the past 60 days. The long-term earnings growth rate is anticipated to be 11.8%.
PTC’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 29.4%. Shares of PTC are down 25.1% in the past year.
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