Analysts on Wall Street project that Analog Devices (ADI) will announce quarterly earnings of $1.69 per share in its forthcoming report, representing an increase of 20.7% year over year. Revenues are projected to reach $2.5 billion, increasing 15.9% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated 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.
With that in mind, let's delve into the average projections of some Analog Devices metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Revenue by end market- Consumer' should arrive at $304.22 million. The estimate suggests a change of +24.1% year over year.
The collective assessment of analysts points to an estimated 'Revenue by end market- Communications' of $280.53 million. The estimate points to a change of +16.5% from the year-ago quarter.
The average prediction of analysts places 'Revenue by end market- Automotive' at $754.45 million. The estimate suggests a change of +14.6% year over year.
The consensus estimate for 'Revenue by end market- Industrial' stands at $1.14 billion. The estimate points to a change of +12.6% from the year-ago quarter.
View all Key Company Metrics for Analog Devices here>>>
Analog Devices shares have witnessed a change of +28.8% in the past month, in contrast to the Zacks S&P 500 composite's +13.1% move. With a Zacks Rank #3 (Hold), ADI 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 >>>>
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
