In its upcoming report, Atmos Energy (ATO) is predicted by Wall Street analysts to post quarterly earnings of $2.92 per share, reflecting an increase of 2.5% compared to the same period last year. Revenues are forecasted to be $1.88 billion, representing a year-over-year increase of 14.4%.
The consensus EPS estimate for the quarter has been revised 2.1% 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link 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.
That said, let's delve into the average estimates of some Atmos metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Operating revenues- Pipeline and storage segment' to come in at $246.48 million. The estimate points to a change of +10.3% from the year-ago quarter.
The combined assessment of analysts suggests that 'Operating revenues- Distribution segment' will likely reach $1.65 billion. The estimate indicates a change of +4% from the prior-year quarter.
Analysts' assessment points toward 'Operating Income- Pipeline and Storage' reaching $143.58 million. Compared to the current estimate, the company reported $124.80 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Operating Income- Distribution' should arrive at $469.03 million. The estimate is in contrast to the year-ago figure of $426.19 million.
View all Key Company Metrics for Atmos here>>>
Over the past month, shares of Atmos have returned +3.2% versus the Zacks S&P 500 composite's -0.5% change. Currently, ATO carries a Zacks Rank #2 (Buy), suggesting that it may outperform 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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Atmos Energy Corporation (ATO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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