William Blair Weighs in on Acuity Brands Inc.’s Q1 2017 Earnings (AYI)
Acuity Brands Inc. (NYSE:AYI) – Stock analysts at William Blair issued their Q1 2017 earnings per share estimates for shares of Acuity Brands in a report issued on Wednesday. William Blair analyst R. Merkel expects that the brokerage will earn $2.15 per share for the quarter. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Acuity Brands’ Q2 2017 earnings at $1.91 EPS, Q3 2017 earnings at $2.30 EPS, Q4 2017 earnings at $2.56 EPS and FY2017 earnings at $8.92 EPS.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.18. The company 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 quarterly revenue 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 research analysts have also recently weighed in on the company. DA Davidson reiterated a “hold” rating and set a $255.00 price objective on shares of Acuity Brands in a research report on Tuesday, October 4th. Zacks Investment Research cut Acuity Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, August 30th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $295.00 price objective on shares of Acuity Brands in a research report on Friday, September 16th. Roth Capital initiated coverage on Acuity Brands in a research report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price objective on the stock. Finally, Canaccord Genuity upgraded Acuity Brands from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $305.00 to $286.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $275.36.
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Shares of Acuity Brands (NYSE:AYI) opened at 240.74 on Monday. Acuity Brands has a one year low of $169.42 and a one year high of $280.89. The firm’s 50-day moving average price is $264.61 and its 200 day moving average price is $255.63. The company has a market capitalization of $10.52 billion, a PE ratio of 36.31 and a beta of 1.46.
Several hedge funds have recently made changes to their positions in AYI. Meeder Asset Management Inc. purchased a new stake in shares of Acuity Brands during the second quarter worth approximately $153,000. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of Acuity Brands during the second quarter worth approximately $163,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Acuity Brands during the second quarter worth approximately $174,000. Point72 Asia Hong Kong Ltd raised 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 worth $174,000 after buying an additional 500 shares during the last quarter. Finally, Pacer Advisors Inc. raised 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 worth $191,000 after buying an additional 65 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, October 14th. Acuity Brands’s payout ratio is 7.83%.
About Acuity Brands
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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