Acuity Brands (AYI) Announces Quarterly Earnings Results, Misses Expectations By $0.12 EPS
Acuity Brands (NYSE:AYI) issued its quarterly earnings data on Tuesday. The company reported $1.00 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.12 by $0.12, StockRatingsNetwork.com reports. The company had revenue of $603.90 million for the quarter, compared to the consensus estimate of $609.09 million. During the same quarter last year, the company posted $0.97 earnings per share. Acuity Brands’s revenue was up 11.5% compared to the same quarter last year.
Acuity Brands (NYSE:AYI) opened at 138.25 on Tuesday. Acuity Brands has a one year low of $75.62 and a one year high of $146.28. The stock’s 50-day moving average is $128.2 and its 200-day moving average is $127.4. The company has a market cap of $5.917 billion and a price-to-earnings ratio of 38.95.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, July 16th.
A number of analysts have recently weighed in on AYI shares. Analysts at Sidoti upgraded shares of Acuity Brands from a “neutral” rating to a “buy” rating in a research note on Monday, April 7th. They now have a $172.00 price target on the stock, up previously from $148.00. On the ratings front, analysts at Canaccord Genuity upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. They now have a $172.00 price target on the stock, up previously from $128.00. Finally, analysts at Northland Securities reiterated a “hold” rating on shares of Acuity Brands in a research note on Wednesday, April 2nd. They now have a $135.00 price target on the stock, up previously from $91.00. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $128.87.
Acuity Brands, Inc (NYSE:AYI), incorporated on September 20, 2007, is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries.
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