The upcoming report from Zimmer Biomet (ZBH) is expected to reveal quarterly earnings of $2.38 per share, indicating an increase of 3% compared to the year-ago period. Analysts forecast revenues of $2.2 billion, representing an increase of 8.9% year over year.
The consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
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 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.
Bearing this in mind, let's now explore the average estimates of specific Zimmer metrics that are commonly monitored and projected by Wall Street analysts.
Analysts expect 'Net Sales- Knees' to come in at $886.42 million. The estimate indicates a year-over-year change of +5.6%.
The collective assessment of analysts points to an estimated 'Net Sales- S.E.T' of $584.44 million. The estimate suggests a change of +19.4% year over year.
The combined assessment of analysts suggests that 'Net Sales- Hips' will likely reach $551.15 million. The estimate indicates a year-over-year change of +6%.
The consensus among analysts is that 'Net Sales- Knees- International' will reach $379.91 million. The estimate points to a change of +8.8% from the year-ago quarter.
Analysts' assessment points toward 'Net Sales- Hips- International' reaching $268.17 million. The estimate indicates a change of +8% from the prior-year quarter.
According to the collective judgment of analysts, 'Net Sales- Knees- United States' should come in at $504.26 million. The estimate suggests a change of +2.9% year over year.
Based on the collective assessment of analysts, 'Net Sales- Hips- United States' should arrive at $287.50 million. The estimate indicates a year-over-year change of +5.8%.
The average prediction of analysts places 'Net Sales- United States' at $1.29 billion. The estimate indicates a year-over-year change of +9.1%.
Analysts forecast 'Net Sales- International' to reach $919.34 million. The estimate suggests a change of +9.2% year over year.
View all Key Company Metrics for Zimmer here>>>
Zimmer shares have witnessed a change of -4.9% in the past month, in contrast to the Zacks S&P 500 composite's +0.5% move. With a Zacks Rank #3 (Hold), ZBH is expected closely follow 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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Zimmer Biomet Holdings, Inc. (ZBH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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