Wall Street analysts forecast that Atmos Energy (ATO) will report quarterly earnings of $2.40 per share in its upcoming release, pointing to a year-over-year increase of 7.6%. It is anticipated that revenues will amount to $1.44 billion, exhibiting an increase of 22% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions 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 Atmos metrics that are commonly tracked and projected by analysts on Wall Street.
According to the collective judgment of analysts, 'Operating revenues- Pipeline and Storage segment' should come in at $283.06 million. The estimate points to a change of +10.8% from the year-ago quarter.
The combined assessment of analysts suggests that 'Operating revenues- Distribution segment' will likely reach $1.17 billion. The estimate suggests a change of +5.4% year over year.
The average prediction of analysts places 'Operating Income- Pipeline and Storage' at $167.62 million. The estimate compares to the year-ago value of $143.40 million.
Analysts expect 'Operating Income- Distribution' to come in at $354.40 million. The estimate compares to the year-ago value of $316.10 million.
View all Key Company Metrics for Atmos here>>>
Atmos shares have witnessed a change of -1% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #4 (Sell), ATO is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Atmos Energy Corporation (ATO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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