In its upcoming report, VAREX IMAGING (VREX) is predicted by Wall Street analysts to post quarterly earnings of $0.22 per share, reflecting an increase of 22.2% compared to the same period last year. Revenues are forecasted to be $216.57 million, representing a year-over-year increase of 6.7%.
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.
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 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.
With that in mind, let's delve into the average projections of some VAREX IMAGING metrics that are commonly tracked and projected by analysts on Wall Street.
It is projected by analysts that the 'Revenues- Industrial' will reach $63.39 million. The estimate indicates a year-over-year change of +4.1%.
The collective assessment of analysts points to an estimated 'Revenues- Medical' of $153.02 million. The estimate indicates a change of +7.7% from the prior-year quarter.
Based on the collective assessment of analysts, 'Gross profit- Industrial' should arrive at $22.78 million. The estimate compares to the year-ago value of $20.80 million.
The consensus among analysts is that 'Gross profit- Medical' will reach $49.56 million. The estimate is in contrast to the year-ago figure of $46.70 million.
Shares of VAREX IMAGING have experienced a change of +15.2% in the past month compared to the +3.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), VREX 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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