Wall Street analysts forecast that Academy Sports and Outdoors, Inc. (ASO) will report quarterly earnings of $1.31 per share in its upcoming release, pointing to a year-over-year decline of 5.1%. It is anticipated that revenues will amount to $1.37 billion, exhibiting a decline of 1.7% compared to the year-ago quarter.

Over the last 30 days, there has been a downward revision of 1.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

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

According to the collective judgment of analysts, 'Net Sales- Merchandise Division Sales- Outdoors' should come in at $423.97 million. The estimate indicates a change of -3.7% from the prior-year quarter.

The combined assessment of analysts suggests that 'Net Sales- Merchandise Division Sales- Sports and recreation' will likely reach $253.50 million. The estimate indicates a year-over-year change of -5%.

The consensus among analysts is that 'Net Sales- Other Sales' will reach $11.53 million. The estimate indicates a year-over-year change of +47.7%.

Based on the collective assessment of analysts, 'Net Sales- Merchandise Division Sales- Footwear' should arrive at $316.58 million. The estimate indicates a change of +2.5% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Net Sales- Total Merchandise Sales' of $1.37 billion. The estimate suggests a change of -1.5% year over year.

The average prediction of analysts places 'Net Sales- Merchandise Division Sales- Apparel' at $374.66 million. The estimate points to a change of +0.2% from the year-ago quarter.

Analysts' assessment points toward 'Stores - EOP' reaching 293. The estimate is in contrast to the year-ago figure of 275.

The consensus estimate for 'New stores open' stands at 8. The estimate is in contrast to the year-ago figure of 5.

View all Key Company Metrics for Academy Sports and Outdoors here>>>

Over the past month, shares of Academy Sports and Outdoors have returned -5.2% versus the Zacks S&P 500 composite's +5.2% change. Currently, ASO carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Academy Sports and Outdoors, Inc. (ASO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research