Wall Street analysts forecast that Analog Devices (ADI) will report quarterly earnings of $2.30 per share in its upcoming release, pointing to a year-over-year increase of 41.1%. It is anticipated that revenues will amount to $3.12 billion, exhibiting an increase of 28.7% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 1.2% 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 usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Analog Devices metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Revenue by end market- Consumer' to reach $359.11 million. The estimate suggests a change of +11.2% year over year.
Analysts' assessment points toward 'Revenue by end market- Communications' reaching $423.96 million. The estimate indicates a change of +46.3% from the prior-year quarter.
The consensus estimate for 'Revenue by end market- Automotive' stands at $801.93 million. The estimate indicates a change of +9.5% from the prior-year quarter.
The average prediction of analysts places 'Revenue by end market- Industrial' at $1.50 billion. The estimate indicates a year-over-year change of +38.8%.
View all Key Company Metrics for Analog Devices here>>>
Analog Devices shares have witnessed a change of +13.1% in the past month, in contrast to the Zacks S&P 500 composite's -0.3% move. With a Zacks Rank #2 (Buy), ADI is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Analog Devices, Inc. (ADI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
