Q1 2017 EPS Estimates for Acuity Brands Inc. Decreased by Analyst (AYI)
Acuity Brands Inc. (NYSE:AYI) – Equities researchers at Roth Capital reduced their Q1 2017 earnings per share (EPS) estimates for shares of Acuity Brands in a research note issued on Wednesday. Roth Capital analyst C. Irwin now forecasts that the firm will post earnings per share of $1.95 for the quarter, down from their previous estimate of $2.13. Roth Capital has a “Hold” rating and a $275.00 price target on the stock. Roth Capital also issued estimates for Acuity Brands’ Q2 2017 earnings at $1.85 EPS, Q3 2017 earnings at $2.20 EPS and Q4 2017 earnings at $2.35 EPS.
Acuity Brands (NYSE:AYI) last released its quarterly earnings data on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.39 by $0.18. The business had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS.
Several other analysts have also weighed in on AYI. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a research report on Wednesday, June 29th. Credit Agricole SA restated an “outperform” rating and issued a $270.00 price target on shares of Acuity Brands in a research report on Friday, July 1st. William Blair restated an “outperform” rating on shares of Acuity Brands in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 price target on the stock in a research report on Friday, June 24th. Finally, Williams Capital assumed coverage on shares of Acuity Brands in a research report on Friday, September 30th. They issued a “buy” rating and a $306.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $277.20.
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Acuity Brands (NYSE:AYI) traded down 0.86% on Friday, hitting $241.87. 290,482 shares of the company were exchanged. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 39.51 and a beta of 1.46. The stock has a 50 day moving average price of $265.67 and a 200 day moving average price of $255.49.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in shares of Acuity Brands during the second quarter valued at $153,000. Mizuho Asset Management Co. Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at $174,000. Point72 Asia Hong Kong Ltd boosted its stake in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.
In related news, CFO Richard K. Reece sold 33,430 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $269.07, for a total value of $8,995,010.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vernon J. Nagel sold 65,060 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, October 14th. Acuity Brands’s dividend payout ratio is currently 7.83%.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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