Atkore Inc. (NYSE:ATKR) investors will be delighted, with the company turning in some strong numbers with its latest results. It was overall a positive result, with revenues beating expectations by 2.8% to hit US$798m. Atkore reported statutory earnings per share (EPS) US$3.61, which was a notable 11% above what the analysts had forecast. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

View our latest analysis for Atkore

Following last week's earnings report, Atkore's five analysts are forecasting 2024 revenues to be US$3.54b, approximately in line with the last 12 months. Statutory earnings per share are forecast to drop 12% to US$15.45 in the same period. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$3.58b and earnings per share (EPS) of US$15.29 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of US$188, showing that the business is executing well and in line with expectations. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Atkore at US$200 per share, while the most bearish prices it at US$176. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that Atkore's revenue growth is expected to slow, with the forecast 2.1% annualised growth rate until the end of 2024 being well below the historical 19% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 7.8% per year. So it's pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Atkore.