Upcoming Earnings Reports Could Impact Stock Prices

Investors await earnings reports from Paychex, McCormick, Acuity Brands, and United Natural Foods, with varying EPS forecasts. This report highlights expected performance, including notable growth in some companies, which may influence stock movements.

Date: 01-10-2024

AI Rating: 7

Investors are keenly focused on the upcoming earnings reports scheduled for prior to market open on 10/01/2024, as these can significantly impact stock prices. According to the report, four key companies are set to release their earnings:

Paychex, Inc. (PAYX): The company has a consensus earnings per share (EPS) forecast of $1.14, indicating no change from the same quarter last year. Paychex has a history of beating expectations, including a 1.82% beat in the previous quarter. The 2025 Price to Earnings (P/E) ratio of 26.65 is higher than the industry average of -28.30, suggesting better expected earnings growth compared to competitors.
McCormick & Company, Incorporated (MKC): With a forecasted EPS of $0.68, MKC is expected to see a 4.62% increase compared to the same quarter last year. The company has met or beaten expectations in the past year and boasts a P/E ratio of 29.21 against an industry average of 25.30, reflecting optimistic earnings growth.
Acuity Brands, Inc. (AYI): The forecasted EPS of $3.90 for AYI represents a 4.28% increase year-on-year. Their consistent outperformance of expectations, especially a 1.05% beat in the last quarter, along with a P/E ratio of 18.87 versus the industry’s 11.10, indicates strong earnings potential.
United Natural Foods, Inc. (UNFI): Expected to release with a EPS forecast of -$0.08, representing a substantial 68.00% increase compared to the prior year. Despite having met expectations just once over the past year, UNFI's P/E of 278.83 signals anticipated strong earnings growth against the industry average of 25.30.

The projections for EPS and P/E ratios across these companies reveal a generally optimistic outlook, particularly for MKC, AYI, and UNFI, which are expected to show positive growth compared to previous quarters. The anticipation of stable or increasing earnings may positively influence stock prices as the reports date approaches, attracting investor interest.

Stocks: PAYX MKC AYI UNFI