Yahoo Finance Itron (ITRI) to Aid Singapore-Based PUB to Curb Water Wastage
Itron Inc ITRI has announced that Singapore’s national water agency – PUB – is deploying the company’s industrial IoT network canopy under PUB’s Smart Water Meter Program. PUB will be leveraging the existing network canopy of SP Group, which is Singapore’s national electricity and gas network operator. SP Group will also be managing the deployment for PUB.
The program will be carried out in different phases, with the first phase being deployed in Bukit Batok, Hougang, Jurong West, Tampines and Tuas, Tampines North and Tengah housing estates.
Per the company report, about 300,000 Itron residential and C&I smart water meters will be integrated into the PUB's current network as part of the above-mentioned program, which will help accomplish water conservation goals.
Itron, Inc. Price and Consensus
Itron, Inc. price-consensus-chart | Itron, Inc. Quote
Smart water meters eliminate the labour-intensive process of manual meter reading by allowing organizations and households to carry out remote meter reading through the MySmartWaterMeter account. Thus, providing more visibility and control over water usage to save resources.
Households and businesses can track their daily water usage on the “MySmartWaterMeter” account, giving them greater visibility and control over their water usage to conserve resources.
Customers will also receive notifications on high usage and potential leaks through the above-mentioned account. This will allow customers to adjust their water habits and understand their water usage patterns.
Itron’s device solutions business segment has a wide array of standard gas meters, electricity IEC meters, water meters and communicating meters. The company plans to leverage its portfolio to expand its global presence in the utility sector with several collaborations.
In October, the company announced a collaboration with Severn Trent Water as part of the company’s Green Recovery Program to transform Warwickshire, England, into a smart water region.
The project involved the deployment of Itron's advanced metering infrastructure system, which includes 157,000 Itron smart water meters fitted with Cyble multi-connectivity communication modules and linked via Connexin, an Itron partner that is supplying the LoRaWAN network.
Prior to that, the company announced a collaboration with SmartThings to connect Itron’s industrial Internet of Things network solution and SmartThings’ services and solutions.
These collaborations are likely to offer a steady revenue stream for the company. However, the company faces heightened competition, leading to the threat of pricing pressure and a loss of market share. A leveraged balance sheet is a further concern.
Itron currently has a Zacks Rank #4 (Sell). Shares of ITRI have lost 26% compared with the industry’s decline of 15.3% in the past year.
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Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks ANET, Pure Storage PSTG and Jabil JBL. Jabil and Arista Networks currently sport a Zacks Rank #1 (Strong Buy), whereas Pure Storage currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.33 per share, up 7.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 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 0.5% in the past year.
The Zacks Consensus Estimate for PSTG 2022 earnings is pegged at $1.18 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 35.5%.
Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 171.8%. Shares of PSTG have increased 10.5% in the past year.
The Zacks Consensus Estimate for Jabil’s fiscal 2023 earnings is pegged at $8.18 per share, rising 3.8 in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 9.3%. Shares of JBL have increased 2.9% in the past year.
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