Insights into Patrick Industries's Upcoming Earnings

Patrick Industries (NASDAQ:PATK) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.

Analysts estimate that Patrick Industries will report an earnings per share (EPS) of $1.87.

The announcement from Patrick Industries is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.

It's worth noting for new investors that guidance can be a key determinant of stock price movements.

Earnings History Snapshot

In the previous earnings release, the company beat EPS by $0.11, leading to a 3.14% drop in the share price the following trading session.

Here's a look at Patrick Industries's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

2.05

1.32

1.35

1.75

EPS Actual

2.16

1.79

1.49

1.81

Price Change %

-3.0%

1.0%

4.0%

-1.0%

Analyst Insights on Patrick Industries

For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Patrick Industries.

Analysts have provided Patrick Industries with 10 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $142.7, suggesting a potential 4.58% upside.

Analyzing Ratings Among Peers

This comparison focuses on the analyst ratings and average 1-year price targets of LCI Indus, Visteon and Phinia, three major players in the industry, shedding light on their relative performance expectations and market positioning.

The consensus among analysts ...