Analysts on Wall Street project that Applied Industrial Technologies (AIT) will announce quarterly earnings of $2.48 per share in its forthcoming report, representing an increase of 3.8% year over year. Revenues are projected to reach $1.17 billion, increasing 9.2% from the same quarter last year.
The current level reflects no revision 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.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship 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 Applied Industrial Technologies metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Net Sales- Engineered Solutions' will reach $416.22 million. The estimate suggests a change of +19.2% year over year.
Analysts forecast 'Net Sales- Service Center Based Distribution' to reach $754.50 million. The estimate suggests a change of +4.2% year over year.
The consensus among analysts is that 'Operating income- Engineered Solutions' will reach $51.79 million. Compared to the current estimate, the company reported $55.53 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating income- Service Center Based Distribution' should arrive at $99.20 million. Compared to the current estimate, the company reported $92.79 million in the same quarter of the previous year.
View all Key Company Metrics for Applied Industrial Technologies here>>>
Over the past month, Applied Industrial Technologies shares have recorded returns of +7.4% versus the Zacks S&P 500 composite's +0.7% change. Based on its Zacks Rank #2 (Buy), AIT will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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