The upcoming report from Acuity (AYI) is expected to reveal quarterly earnings of $5.16 per share, indicating an increase of 0.8% compared to the year-ago period. Analysts forecast revenues of $1.18 billion, representing an increase of 0.4% year over year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship 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.
Bearing this in mind, let's now explore the average estimates of specific Acuity metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales by Channel- Acuity Intelligent Spaces' will likely reach $289.17 million. The estimate indicates a year-over-year change of +9.5%.
The consensus estimate for 'Net Sales by Channel- Acuity Brands Lighting (ABL)- Total' stands at $903.59 million. The estimate indicates a change of -2.1% from the prior-year quarter.
Analysts forecast 'Adjusted operating profit- Acuity Intelligent Spaces' to reach $68.32 million. Compared to the current estimate, the company reported $62.30 million in the same quarter of the previous year.
Analysts predict that the 'Adjusted operating profit- Acuity Brands Lighting' will reach $177.01 million. The estimate compares to the year-ago value of $173.90 million.
View all Key Company Metrics for Acuity here>>>Over the past month, Acuity shares have recorded returns of +13% versus the Zacks S&P 500 composite's +1.4% change. Based on its Zacks Rank #3 (Hold), AYI will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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
Acuity, Inc. (AYI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).