The upcoming report from Chegg (CHGG) is expected to reveal quarterly earnings of $0.17 per share, indicating a decline of 52.8% compared to the year-ago period. Analysts forecast revenues of $142.03 million, representing a decrease of 24.5% year over year.
The current level reflects no revision 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.
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 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.
Given this perspective, it's time to examine the average forecasts of specific Chegg metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Revenue- Skills and Other' at $15.08 million. The estimate indicates a year-over-year change of -21.3%.
According to the collective judgment of analysts, 'Revenue- Subscription Services' should come in at $126.86 million. The estimate suggests a change of -24.7% year over year.
The consensus among analysts is that 'Chegg Services subscribers' will reach 3.92 million. The estimate compares to the year-ago value of 4.6 million.
View all Key Company Metrics for Chegg here>>>
Shares of Chegg have experienced a change of -1.4% in the past month compared to the +4.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CHGG 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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