Top Wall Street Forecasters Revamp Acuity Expectations Ahead Of Q1 Earnings

Core Viewpoint - Acuity Inc. is expected to report strong earnings growth in the upcoming first quarter, with analysts projecting earnings per share to rise to $4.59 from $3.97 year-over-year, alongside a significant revenue increase to $1.14 billion from $951.6 million [1]. Group 1: Earnings and Revenue Expectations - Acuity Inc. will release its first-quarter earnings results on January 8, 2025, with analysts forecasting earnings per share of $4.59, an increase of 15.6% from the previous year's $3.97 [1]. - The consensus estimate for quarterly revenue is $1.14 billion, reflecting a year-over-year growth of 19.5% from $951.6 million [1]. Group 2: Recent Performance and Market Reaction - On October 1, Acuity reported fourth-quarter net sales growth of 17.1% year-over-year, reaching $1.21 billion, although this fell short of the analyst consensus estimate of $1.23 billion [2]. - Following the earnings report, Acuity's shares increased by 0.9%, closing at $376.69 [2]. Group 3: Analyst Ratings and Price Targets - Morgan Stanley maintained an Overweight rating and raised the price target from $365 to $425 [3]. - Goldman Sachs kept a Neutral rating while increasing the price target from $312 to $356 [3]. - Wells Fargo maintained an Overweight rating and raised the price target from $380 to $405 [3]. - Oppenheimer maintained an Outperform rating and increased the price target from $380 to $435 [3]. - Baird maintained a Neutral rating and raised the price target from $335 to $360 [3].