Zacks: Analysts Anticipate Acuity Brands, Inc. (NYSE:AYI) Will Announce Earnings of $2.23 Per Share


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Equities analysts expect Acuity Brands, Inc. (NYSE:AYI) to post earnings of $2.23 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Acuity Brands’ earnings, with the highest EPS estimate coming in at $2.33 and the lowest estimate coming in at $2.10. Acuity Brands posted earnings per share of $1.94 in the same quarter last year, which would suggest a positive year over year growth rate of 14.9%. The company is expected to report its next earnings report on Tuesday, June 29th.

According to Zacks, analysts expect that Acuity Brands will report full-year earnings of $9.10 per share for the current year, with EPS estimates ranging from $8.90 to $9.65. For the next fiscal year, analysts anticipate that the business will report earnings of $9.89 per share, with EPS estimates ranging from $9.28 to $11.00. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Acuity Brands.

Acuity Brands (NYSE:AYI) last posted its earnings results on Tuesday, March 30th. The electronics maker reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.39. Acuity Brands had a return on equity of 14.50% and a net margin of 7.64%.

AYI has been the topic of a number of recent research reports. Oppenheimer raised their target price on Acuity Brands from $140.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, April 1st. Cowen raised their target price on Acuity Brands from $133.00 to $181.00 and gave the company an “outperform” rating in a research note on Thursday, April 1st. The Goldman Sachs Group upgraded Acuity Brands from a “sell” rating to a “neutral” rating and raised their target price for the company from $95.00 to $166.00 in a research note on Monday. William Blair upgraded shares of Acuity Brands from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 1st. Finally, Credit Suisse Group lifted their price objective on shares of Acuity Brands from $152.00 to $186.00 and gave the company an “outperform” rating in a research note on Wednesday, March 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Acuity Brands currently has an average rating of “Hold” and a consensus price target of $154.19.

AYI stock traded down $1.12 during mid-day trading on Monday, reaching $165.87. The company had a trading volume of 585 shares, compared to its average volume of 521,240. The company has a quick ratio of 1.77, a current ratio of 2.31 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.92 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.59 and a beta of 1.52. Acuity Brands has a one year low of $70.55 and a one year high of $173.61. The stock’s 50-day simple moving average is $137.18 and its two-hundred day simple moving average is $117.65.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 16th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Thursday, April 15th. Acuity Brands’s dividend payout ratio is currently 6.92%.

In related news, CFO Karen J. Holcom sold 1,150 shares of Acuity Brands stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $173.00, for a total transaction of $198,950.00. Following the transaction, the chief financial officer now directly owns 21,854 shares of the company’s stock, valued at $3,780,742. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Cooke & Bieler LP grew its holdings in Acuity Brands by 13.3% during the fourth quarter. Cooke & Bieler LP now owns 938,214 shares of the electronics maker’s stock worth $113,608,000 after acquiring an additional 109,919 shares during the period. Norges Bank acquired a new position in Acuity Brands during the fourth quarter worth about $98,900,000. Dimensional Fund Advisors LP grew its holdings in Acuity Brands by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 658,889 shares of the electronics maker’s stock worth $79,784,000 after acquiring an additional 51,150 shares during the period. SummerHaven Investment Management LLC acquired a new position in Acuity Brands during the fourth quarter worth about $547,000. Finally, Miller Value Partners LLC acquired a new position in Acuity Brands during the third quarter worth about $50,257,000. 97.23% of the stock is currently owned by hedge funds and other institutional investors.

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 control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, tunnel, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.

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