In its upcoming report, Analog Devices (ADI) is predicted by Wall Street analysts to post quarterly earnings of $1.93 per share, reflecting an increase of 22.2% compared to the same period last year. Revenues are forecasted to be $2.76 billion, representing a year-over-year increase of 19.2%.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Analog Devices metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue by end market- Consumer' will reach $352.36 million. The estimate indicates a change of +11.3% from the prior-year quarter.
It is projected by analysts that the 'Revenue by end market- Communications' will reach $321.10 million. The estimate suggests a change of +20.4% year over year.
The combined assessment of analysts suggests that 'Revenue by end market- Automotive' will likely reach $798.62 million. The estimate points to a change of +19.1% from the year-ago quarter.
Analysts predict that the 'Revenue by end market- Industrial' will reach $1.27 billion. The estimate indicates a year-over-year change of +20.3%.
View all Key Company Metrics for Analog Devices here>>>
Over the past month, shares of Analog Devices have returned -2% versus the Zacks S&P 500 composite's +3.3% change. Currently, ADI carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Analog Devices, Inc. (ADI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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