Equities research analysts expect Acuity Brands, Inc. (NYSE:AYI) to post $931.72 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Acuity Brands’ earnings. The highest sales estimate is $967.10 million and the lowest is $870.00 million. Acuity Brands reported sales of $842.80 million during the same quarter last year, which indicates a positive year over year growth rate of 10.6%. The company is expected to announce its next earnings results on Tuesday, January 8th.
On average, 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 forecast that the firm will report sales of $4.13 billion, with estimates ranging from $4.06 billion to $4.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Acuity Brands.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Wednesday, October 3rd. The electronics maker reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.12. Acuity Brands had a return on equity of 20.30% and a net margin of 9.50%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. Acuity Brands’s revenue for the quarter was up 10.8% compared to the same quarter last year.
A number of research analysts have recently weighed in on the company. Wells Fargo & Co upgraded Acuity Brands from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $187.00 in a report on Thursday, September 20th. Goldman Sachs Group downgraded Acuity Brands from a “neutral” rating to a “sell” rating and lowered their price target for the company from $141.00 to $126.00 in a report on Wednesday, September 12th. ValuEngine upgraded Acuity Brands from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. JMP Securities set a $170.00 price target on Acuity Brands and gave the company a “buy” rating in a report on Wednesday, September 12th. Finally, Robert W. Baird upgraded Acuity Brands from a “neutral” rating to an “outperform” rating and set a $185.00 price target on the stock in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $150.89.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Acuity Brands by 45.8% in 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 in the last quarter. FMR LLC grew its stake in Acuity Brands by 10.7% in 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 in the last quarter. JPMorgan Chase & Co. grew its stake in Acuity Brands by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 1,503,901 shares of the electronics maker’s stock valued at $236,413,000 after purchasing an additional 194,259 shares in the last quarter. American Century Companies Inc. grew its stake in Acuity Brands by 12.8% in the third quarter. American Century Companies Inc. now owns 1,032,424 shares of the electronics maker’s stock valued at $162,297,000 after purchasing an additional 116,800 shares in the last quarter. Finally, Vulcan Value Partners LLC grew its stake in Acuity Brands by 94.8% in 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 in the last quarter.
Shares of AYI stock opened at $130.02 on Monday. Acuity Brands has a 1-year low of $109.98 and a 1-year high of $186.99. The company has a current ratio of 1.77, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.21 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.54.
Acuity Brands Company Profile
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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