William Blair Analysts Reduce Earnings Estimates for Acuity Brands Inc (AYI)
Acuity Brands Inc (NYSE:AYI) – Research analysts at William Blair decreased their FY2018 EPS estimates for Acuity Brands in a research report issued on Thursday. William Blair analyst R. Merkel now expects that the electronics maker will earn $8.56 per share for the year, down from their previous estimate of $8.86.
Other analysts have also issued reports about the company. Robert W. Baird lowered their price target on Acuity Brands from $242.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 4th. Wolfe Research began coverage on Acuity Brands in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $237.00 price target on the stock. Roth Capital set a $130.00 price target on Acuity Brands and gave the stock a “sell” rating in a research note on Thursday. Seaport Global Securities reaffirmed a “buy” rating and issued a $200.00 price target (down from $225.00) on shares of Acuity Brands in a research note on Friday. Finally, BidaskClub lowered Acuity Brands from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $198.42.
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Acuity Brands (AYI) traded down 0.63% on Friday, hitting $174.59. The stock had a trading volume of 534,405 shares. Acuity Brands has a 12 month low of $153.28 and a 12 month high of $261.43. The company has a market cap of $7.52 billion, a PE ratio of 24.35 and a beta of 1.43. The company has a 50-day moving average of $173.53 and a 200 day moving average of $182.80.
Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. The firm had revenue of $957.60 million during the quarter, compared to the consensus estimate of $975.05 million. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.30%. Acuity Brands’s payout ratio is currently 6.99%.
Acuity Brands declared that its Board of Directors has initiated a share repurchase program on Thursday, June 29th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
In related news, EVP Mark A. Black sold 5,427 shares of the company’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $205.29, for a total value of $1,114,108.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Acuity Brands by 661.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock worth $111,000 after acquiring an additional 476 shares during the period. Seven Bridges Advisors LLC acquired a new stake in Acuity Brands during the 2nd quarter worth approximately $117,000. YorkBridge Wealth Partners LLC lifted its position in Acuity Brands by 11.0% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock worth $119,000 after acquiring an additional 58 shares during the period. QS Investors LLC lifted its position in Acuity Brands by 1.2% during the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 7 shares during the period. Finally, Van ECK Associates Corp lifted its position in Acuity Brands by 7.7% during the 1st quarter. Van ECK Associates Corp now owns 614 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 44 shares during the period.
Acuity Brands Company Profile
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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