The upcoming report from EnerSys (ENS) is expected to reveal quarterly earnings of $1.81 per share, indicating an increase of 63.1% compared to the year-ago period. Analysts forecast revenues of $911.9 million, representing an increase of 1.4% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company’s earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.
In light of this perspective, let’s dive into the average estimates of certain EnerSys metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that ‘Net sales- Motive Power’ will reach $333.05 million. The estimate suggests a change of -1.5% year over year.
Based on the collective assessment of analysts, ‘Net sales- Energy Systems’ should arrive at $435.75 million. The estimate is in contrast to the year-ago figure of $437 million.
Analysts’ assessment points toward ‘Net sales- Specialty’ reaching $130.58 million. The estimate compares to the year-ago value of $124.40 million.
View all Key Company Metrics for EnerSys here>>>
Shares of EnerSys have experienced a change of -3.8% in the past month compared to the +3.1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), ENS is expected to underperform the overall market in the near future. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Enersys (ENS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.