Analysts on Wall Street project that Analog Devices (ADI) will announce quarterly earnings of $3.33 per share in its forthcoming report, representing an increase of 62.4% year over year. Revenues are projected to reach $3.92 billion, increasing 36.2% from the same quarter last year.

The current level reflects a downward revision of 0.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

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 investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

That said, let's delve into the average estimates of some Analog Devices metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Revenue by end market- Consumer' reaching $386.06 million. The estimate indicates a year-over-year change of +3.7%.

It is projected by analysts that the 'Revenue by end market- Communications' will reach $637.28 million. The estimate suggests a change of +71.1% year over year.

Analysts forecast 'Revenue by end market- Automotive' to reach $940.89 million. The estimate indicates a change of +10.6% from the prior-year quarter.

Based on the collective assessment of analysts, 'Revenue by end market- Industrial' should arrive at $1.95 billion. The estimate suggests a change of +51.4% year over year.

View all Key Company Metrics for Analog Devices here>>>

Over the past month, shares of Analog Devices have returned +0.2% versus the Zacks S&P 500 composite's +3.8% change. Currently, ADI 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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Analog Devices, Inc. (ADI): Free Stock Analysis Report

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