Analysts on Wall Street project that Pacific Biosciences of California (PACB) will announce quarterly loss of -$0.16 per share in its forthcoming report, representing an increase of 5.9% year over year. Revenues are projected to reach $39.84 million, declining 0.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 5.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance 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.
With that in mind, let's delve into the average projections of some Pacific Biosciences metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Revenue- Product- Instrument' should arrive at $13.35 million. The estimate indicates a change of -20.5% from the prior-year quarter.
Analysts forecast 'Revenue- Product' to reach $33.97 million. The estimate points to a change of -3.8% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Service and other' should come in at $5.92 million. The estimate indicates a change of +26.7% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Product- Consumable' will reach $20.62 million. The estimate indicates a year-over-year change of +11.5%.
View all Key Company Metrics for Pacific Biosciences here>>>
Shares of Pacific Biosciences have experienced a change of +47.4% in the past month compared to the +2.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), PACB is expected to mirror 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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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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