Analysts predict that Acuity Brands, Inc. (NYSE:AYI) will post sales of $931.72 million for the current quarter, according to Zacks. Six analysts have issued estimates for Acuity Brands’ earnings, with estimates ranging from $870.00 million to $967.10 million. Acuity Brands reported sales of $842.80 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.6%. The company is expected to announce its next earnings results on Tuesday, January 8th.
According to Zacks, analysts expect that Acuity Brands will report full-year sales of $3.88 billion for the current year, with estimates ranging from $3.64 billion to $3.99 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.13 billion, with estimates ranging from $4.06 billion to $4.19 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Acuity Brands.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings data on Wednesday, October 3rd. The electronics maker reported $2.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.12. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Acuity Brands had a net margin of 9.50% and a return on equity of 20.30%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 earnings per share.
A number of brokerages have weighed in on AYI. JMP Securities set a $170.00 price objective on shares of Acuity Brands and gave the stock a “buy” rating in a report on Thursday, October 4th. Wells Fargo & Co cut their price objective on shares of Acuity Brands from $187.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. Credit Suisse Group initiated coverage on shares of Acuity Brands in a report on Friday, October 12th. They issued a “neutral” rating and a $135.00 price objective on the stock. Robert W. Baird set a $175.00 target price on shares of Acuity Brands and gave the stock a “buy” rating in a research note on Thursday, October 4th. Finally, Cowen set a $180.00 target price on shares of Acuity Brands and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Acuity Brands presently has a consensus rating of “Hold” and a consensus target price of $150.89.
Shares of AYI opened at $126.94 on Friday. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.77. Acuity Brands has a fifty-two week low of $109.98 and a fifty-two week high of $186.99.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Thursday, October 18th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 17th. This represents a $0.52 dividend on an annualized basis and a yield of 0.41%. Acuity Brands’s dividend payout ratio (DPR) is 6.33%.
A number of institutional investors have recently modified their holdings of AYI. BlackRock Inc. lifted its position in Acuity Brands by 45.8% during the second quarter. BlackRock Inc. now owns 4,140,236 shares of the electronics maker’s stock valued at $479,730,000 after purchasing an additional 1,300,971 shares during the period. Seizert Capital Partners LLC bought a new position in Acuity Brands during the third quarter valued at approximately $71,393,000. Vulcan Value Partners LLC lifted its position in Acuity Brands by 94.8% during the second quarter. Vulcan Value Partners LLC now owns 888,340 shares of the electronics maker’s stock valued at $102,932,000 after purchasing an additional 432,385 shares during the period. LSV Asset Management lifted its position in Acuity Brands by 9,730.1% during the third quarter. LSV Asset Management now owns 334,222 shares of the electronics maker’s stock valued at $52,539,000 after purchasing an additional 330,822 shares during the period. Finally, FMR LLC lifted its position in Acuity Brands by 10.7% during the second quarter. FMR LLC now owns 2,397,045 shares of the electronics maker’s stock valued at $277,745,000 after purchasing an additional 231,932 shares during the period.
About Acuity Brands
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and controls products and solutions, such as recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, landscape, and underwater lighting; area pedestrian, flood, and decorative site lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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