Wall Street analysts expect Myriad Genetics (MYGN) to post quarterly loss of -$0.02 per share in its upcoming report, which indicates a year-over-year decline of 166.7%. Revenues are expected to be $207.59 million, down 1.4% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
That said, let's delve into the average estimates of some Myriad metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Revenue by core product- Prenatal' stands at $47.02 million. The estimate points to a change of +4.7% from the year-ago quarter.
Analysts predict that the 'Revenue by core product- Hereditary Cancer' will reach $94.87 million. The estimate suggests a change of +0.6% year over year.
Analysts forecast 'Revenue by core product- Pharmacogenomics' to reach $36.87 million. The estimate indicates a change of -9.2% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue by core product- Tumor Profiling' should come in at $28.59 million. The estimate suggests a change of -7.2% year over year.
View all Key Company Metrics for Myriad here>>>
Over the past month, shares of Myriad have returned -20.8% versus the Zacks S&P 500 composite's -1.3% change. Currently, MYGN carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Myriad Genetics, Inc. (MYGN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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