Wall Street analysts forecast that Zimmer Biomet (ZBH) will report quarterly earnings of $1.77 per share in its upcoming release, pointing to a year-over-year decline of 8.8%. It is anticipated that revenues will amount to $1.89 billion, exhibiting an increase of 0.2% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
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 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.
According to the collective judgment of analysts, 'Net Sales- Knees' should come in at $787.14 million. The estimate points to a change of -0.1% from the year-ago quarter.
The consensus estimate for 'Net Sales- Other' stands at $152.71 million. The estimate suggests a change of -2.9% year over year.
Based on the collective assessment of analysts, 'Net Sales- S.E.T' should arrive at $460.26 million. The estimate points to a change of +1.7% from the year-ago quarter.
Analysts predict that the 'Net Sales- Hips' will reach $488.84 million. The estimate indicates a change of -0.5% from the prior-year quarter.
It is projected by analysts that the 'Net Sales- Knees- International' will reach $328.76 million. The estimate indicates a year-over-year change of -0.4%.
The collective assessment of analysts points to an estimated 'Net Sales- Hips- International' of $229.39 million. The estimate indicates a change of -2.9% from the prior-year quarter.
Analysts forecast 'Net Sales- Knees- United States' to reach $464.68 million. The estimate indicates a change of +1.5% from the prior-year quarter.
The consensus among analysts is that 'Net Sales- Hips- United States' will reach $258.29 million. The estimate indicates a year-over-year change of +1.3%.
The average prediction of analysts places 'Net Sales- United States' at $1.10 billion. The estimate suggests a change of +0.5% year over year.
Analysts' assessment points toward 'Net Sales- International' reaching $783.50 million. The estimate indicates a year-over-year change of -0.8%.
View all Key Company Metrics for Zimmer here>>>
Shares of Zimmer have experienced a change of -8.5% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), ZBH is expected to mirror the overall market performance in the near future. 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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