Wall Street analysts forecast that ON Semiconductor Corp. (ON) will report quarterly earnings of $0.62 per share in its upcoming release, pointing to a year-over-year decline of 34.7%. It is anticipated that revenues will amount to $1.53 billion, exhibiting a decrease of 11% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
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 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 ON Semiconductor Corp. metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus estimate for 'Revenue- Market- Others' stands at $345.53 million. The estimate points to a change of +23.4% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Market- Industrial' will reach $407.72 million. The estimate suggests a change of -2.2% year over year.
Analysts expect 'Revenue- Market- Automotive' to come in at $780.72 million. The estimate suggests a change of -23.9% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Product- Intelligent Sensing Group (ISG)' of $234.38 million. The estimate points to a change of -22.5% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Product- Analog & Mixed-Signal Group (AMG)' should come in at $574.91 million. The estimate indicates a change of -5.9% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Product- Power Solutions Group (PSG)' reaching $721.09 million. The estimate points to a change of -10.9% from the year-ago quarter.
View all Key Company Metrics for ON Semiconductor Corp. here>>>
Over the past month, ON Semiconductor Corp. shares have recorded returns of -3.8% versus the Zacks S&P 500 composite's +0.9% change. Based on its Zacks Rank #3 (Hold), ON will likely exhibit a performance that aligns with 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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ON Semiconductor Corporation (ON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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