Analysts on Wall Street project that Merck (MRK Quick QuoteMRK - Free Report) will announce quarterly earnings of $1.99 per share in its forthcoming report, representing a decline of 12.7% year over year. Revenues are projected to reach $15.71 billion, declining 2.5% from the same quarter last year.

The consensus EPS estimate for the quarter has undergone a downward revision of 1.1% 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.

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 use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

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

The average prediction of analysts places 'Sales- Oncology- Keytruda' at $7.90 billion. The estimate indicates a year-over-year change of +8.7%.

The collective assessment of analysts points to an estimated 'Sales- Vaccines- Gardasil' of $1.30 billion. The estimate indicates a change of -47.5% from the prior-year quarter.

Analysts expect 'Sales- Animal health' to come in at $1.55 billion. The estimate suggests a change of +4.5% year over year.

The consensus among analysts is that 'Sales- Oncology- Alliance revenue- Lenvima' will reach $244.01 million. The estimate points to a change of -2% from the year-ago quarter.

Analysts predict that the 'Sales- Oncology- Keytruda - U.S.' will reach $4.67 billion. The estimate indicates a year-over-year change of +5.9%.

It is projected by analysts that the 'Sales- Oncology- Keytruda - International' will reach $3.16 billion. The estimate suggests a change of +10.4% year over year.

The combined assessment of analysts suggests that 'Sales- Oncology- Alliance revenue- Lynparza - U.S.' will likely reach $140.82 million. The estimate points to a change of -8% from the year-ago quarter.

The consensus estimate for 'Sales- Oncology- Alliance revenue- Lynparza - International' stands at $185.43 million. The estimate suggests a change of +12.4% year over year.

According to the collective judgment of analysts, 'Sales- Oncology- Alliance revenue- Lenvima - U.S.' should come in at $178.30 million. The estimate points to a change of +0.7% from the year-ago quarter.

Based on the collective assessment of analysts, 'Sales- Oncology- Alliance revenue- Lenvima - International' should arrive at $73.72 million. The estimate points to a change of +1% from the year-ago quarter.

Analysts' assessment points toward 'Sales- Hospital Acute Care- Zerbaxa - U.S.' reaching $36.85 million. The estimate points to a change of +11.7% from the year-ago quarter.

Analysts forecast 'Sales- Hospital Acute Care- Zerbaxa - International' to reach $29.97 million. The estimate indicates a change of +7.1% from the prior-year quarter.

Over the past month, Merck shares have recorded returns of +5.4% versus the Zacks S&P 500 composite's +5.7% change. Based on its Zacks Rank #4 (Sell), MRK 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 >>>> .