Analysts on Wall Street project that ON Semiconductor Corp. (ON) will announce quarterly earnings of $0.51 per share in its forthcoming report, representing a decline of 52.8% year over year. Revenues are projected to reach $1.41 billion, declining 24.6% from the same quarter last year.

Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of 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.

In light of this perspective, let's dive into the average estimates of certain ON Semiconductor Corp. metrics that are commonly tracked and forecasted by Wall Street analysts.

According to the collective judgment of analysts, 'Revenue- Market- Others' should come in at $275.77 million. The estimate points to a change of -25.4% from the year-ago quarter.

Based on the collective assessment of analysts, 'Revenue- Market- Industrial' should arrive at $387.81 million. The estimate indicates a change of -18.6% from the prior-year quarter.

The combined assessment of analysts suggests that 'Revenue- Market- Automotive' will likely reach $813.98 million. The estimate indicates a change of -20% from the prior-year quarter.

The consensus among analysts is that 'Revenue- Product- Intelligent Sensing Group' will reach $264.42 million. The estimate suggests a change of -9.3% year over year.

View all Key Company Metrics for ON Semiconductor Corp. here>>>

Over the past month, ON Semiconductor Corp. shares have recorded returns of -3.3% versus the Zacks S&P 500 composite's -0.2% change. Based on its Zacks Rank #5 (Strong Sell), ON will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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