Atkore Gears Up For Q4 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Atkore Inc. (NYSE:ATKR) is expected to report Q4 FY2023 earnings of $4.08 per share, down from $5.52 per share a year ago, with revenue estimated at $920.43 million, a decrease from $1.03 billion. The company had mixed Q3 results but raised its FY23 adjusted earnings outlook. Shares dropped 0.7% to $135.23 recently. Analysts from B. Riley Securities, Citigroup, and RBC Capital have provided ratings and adjusted price targets for Atkore.
November 17, 2023 | 8:26 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Atkore Inc. is anticipated to report lower Q4 earnings and revenue year-over-year. Analysts have revised price targets with a positive outlook despite recent share price decline.
The expected decrease in earnings and revenue could put downward pressure on the stock price in the short term. However, the positive revisions of price targets by analysts and the raised FY23 earnings outlook could counterbalance the negative impact. The recent share price drop indicates market anticipation of the earnings report, but the confidence in the stock is bolstered by the analysts' positive ratings.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100