Brokers Set Expectations for Acuity Brands Inc’s Q1 2018 Earnings (AYI)
Acuity Brands Inc (NYSE:AYI) – Equities researchers at Oppenheimer Holdings issued their Q1 2018 EPS estimates for shares of Acuity Brands in a note issued to investors on Tuesday. Oppenheimer Holdings analyst C. Glynn forecasts that the electronics maker will post earnings of $2.05 per share for the quarter. Oppenheimer Holdings currently has a “Buy” rating and a $200.00 price target on the stock. Oppenheimer Holdings also issued estimates for Acuity Brands’ Q2 2018 earnings at $1.78 EPS, Q3 2018 earnings at $2.23 EPS, Q4 2018 earnings at $2.55 EPS and FY2019 earnings at $9.31 EPS.
Several other equities analysts have also recently commented on the stock. Robert W. Baird lowered their price target on shares of Acuity Brands from $242.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 4th. Wolfe Research started coverage on shares of Acuity Brands in a report on Tuesday, July 11th. They set an “outperform” rating and a $237.00 price target on the stock. KeyCorp started coverage on shares of Acuity Brands in a report on Friday. They set a “sector weight” rating on the stock. BidaskClub cut shares of Acuity Brands from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Cowen and Company lowered their price target on shares of Acuity Brands from $230.00 to $226.00 and set an “outperform” rating on the stock in a report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Acuity Brands has an average rating of “Hold” and a consensus target price of $197.17.
Shares of Acuity Brands (NYSE AYI) traded down 0.83% on Friday, hitting $164.07. The company’s stock had a trading volume of 131,614 shares. The stock’s 50 day moving average is $172.15 and its 200-day moving average is $181.57. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 22.08 and a beta of 1.43. Acuity Brands has a 52 week low of $153.28 and a 52 week high of $261.43.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company had revenue of $957.60 million for the quarter, compared to analyst estimates of $975.05 million. During the same quarter in the prior year, the company posted $2.21 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, October 17th. Acuity Brands’s payout ratio is presently 6.99%.
Acuity Brands declared that its board has authorized a share buyback program on Thursday, June 29th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several hedge funds have recently added to or reduced their stakes in the stock. 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 last quarter. Seven Bridges Advisors LLC acquired a new position in Acuity Brands during the 2nd quarter worth $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 last quarter. 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 last quarter. 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 last quarter.
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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