$886.10 Million in Sales Expected for Acuity Brands Inc (AYI) This Quarter
Wall Street analysts predict that Acuity Brands Inc (NYSE:AYI) will report $886.10 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Acuity Brands’ earnings, with estimates ranging from $860.00 million to $933.27 million. Acuity Brands reported sales of $851.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The company is expected to issue its next earnings report on Monday, January 8th.
According to Zacks, analysts expect that Acuity Brands will report full-year sales of $886.10 million for the current year, with estimates ranging from $3.64 billion to $3.75 billion. For the next financial year, analysts expect that the firm will report sales of $3.89 billion per share, with estimates ranging from $3.79 billion to $3.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Acuity Brands.
Acuity Brands (NYSE:AYI) last released 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. The business had revenue of $957.60 million for the quarter, compared to analysts’ expectations of $975.05 million. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.21 EPS.
A number of equities research analysts recently weighed in on the company. Roth Capital set a $130.00 price target on Acuity Brands and gave the stock a “sell” rating in a report on Thursday, October 5th. Wells Fargo & Company cut Acuity Brands from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $225.00 to $185.00 in a report on Friday, September 15th. BidaskClub cut Acuity Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Seaport Global Securities restated a “buy” rating and issued a $200.00 price target (down previously from $225.00) on shares of Acuity Brands in a report on Friday, October 6th. Finally, Wolfe Research cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $197.17.
In other Acuity Brands news, EVP Mark A. Black sold 7,441 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the sale, the executive vice president now owns 30,649 shares in the company, valued at approximately $4,944,296.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Eagle Asset Management Inc. grew its holdings in Acuity Brands by 2.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 366,528 shares of the electronics maker’s stock valued at $74,507,000 after buying an additional 7,657 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Acuity Brands by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,934 shares of the electronics maker’s stock valued at $10,557,000 after buying an additional 1,745 shares during the last quarter. Peloton Wealth Strategists acquired a new stake in Acuity Brands during the 2nd quarter valued at $1,235,000. Handelsbanken Fonder AB grew its holdings in Acuity Brands by 22.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,916 shares of the electronics maker’s stock valued at $9,235,000 after buying an additional 10,000 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Acuity Brands by 32.3% during the 3rd quarter. First Trust Advisors LP now owns 41,347 shares of the electronics maker’s stock worth $7,082,000 after purchasing an additional 10,097 shares during the period.
Shares of Acuity Brands (AYI) opened at $173.62 on Tuesday. The firm has a market capitalization of $7,235.55, a P/E ratio of 21.51, a P/E/G ratio of 1.80 and a beta of 1.44. The company has a quick ratio of 1.53, a current ratio of 2.07 and a debt-to-equity ratio of 0.21. Acuity Brands has a fifty-two week low of $153.28 and a fifty-two week high of $250.14.
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About Acuity Brands
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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