In its upcoming report, ON Semiconductor Corp. (ON) is predicted by Wall Street analysts to post quarterly earnings of $0.54 per share, reflecting a decline of 43.8% compared to the same period last year. Revenues are forecasted to be $1.45 billion, representing a year-over-year decrease of 16.4%.
The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some ON Semiconductor Corp. metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue- Market- Others' to come in at $310.18 million. The estimate indicates a year-over-year change of -13.9%.
The consensus estimate for 'Revenue- Market- Industrial' stands at $420.53 million. The estimate points to a change of -10.1% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Market- Automotive' will reach $718.62 million. The estimate points to a change of -20.8% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- Product- Intelligent Sensing Group' reaching $234.83 million. The estimate points to a change of -6.9% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Product- Power Solutions Group' of $657.88 million. The estimate indicates a year-over-year change of -21.2%.
View all Key Company Metrics for ON Semiconductor Corp. here>>>
Shares of ON Semiconductor Corp. have demonstrated returns of +8.9% over the past month compared to the Zacks S&P 500 composite's +3.4% change. With a Zacks Rank #2 (Buy), ON is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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ON Semiconductor Corporation (ON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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