Equities analysts expect that Acuity Brands, Inc. (NYSE:AYI) will report sales of $931.72 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Acuity Brands’ earnings, with the highest sales estimate coming in at $967.10 million and the lowest estimate coming in at $870.00 million. Acuity Brands posted sales of $842.80 million during the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, January 8th.
On average, analysts expect that Acuity Brands will report full year sales of $3.88 billion for the current fiscal year, with estimates ranging from $3.64 billion to $3.99 billion. For the next financial year, analysts expect that the firm will post sales of $4.13 billion, with estimates ranging from $4.06 billion to $4.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Acuity Brands.
Acuity Brands (NYSE:AYI) last issued its earnings results on Wednesday, October 3rd. The electronics maker reported $2.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.56 by $0.12. Acuity Brands had a net margin of 9.50% and a return on equity of 20.30%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $2.55 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year.
Several research analysts recently issued reports on AYI shares. JMP Securities raised their target price on shares of Acuity Brands from $150.00 to $154.00 and gave the stock a “buy” rating in a report on Thursday, July 5th. ValuEngine raised shares of Acuity Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 11th. Robert W. Baird raised shares of Acuity Brands from a “neutral” rating to an “outperform” rating and set a $185.00 target price for the company in a report on Friday, September 7th. Goldman Sachs Group cut shares of Acuity Brands from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $141.00 to $126.00 in a report on Wednesday, September 12th. Finally, Wells Fargo & Co raised shares of Acuity Brands from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $140.00 to $187.00 in a report on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Acuity Brands has an average rating of “Hold” and an average price target of $150.89.
Shares of Acuity Brands stock traded down $1.50 during trading on Wednesday, hitting $122.44. 443,800 shares of the company’s stock were exchanged, compared to its average volume of 820,745. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.77 and a quick ratio of 1.17. Acuity Brands has a 52-week low of $109.98 and a 52-week high of $186.99. The stock has a market cap of $4.98 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Thursday, October 18th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, October 17th. This represents a $0.52 annualized dividend and a yield of 0.42%. Acuity Brands’s dividend payout ratio is presently 6.33%.
A number of hedge funds have recently added to or reduced their stakes in AYI. BlackRock Inc. grew 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 buying an additional 1,300,971 shares during the period. Vulcan Value Partners LLC grew 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 buying an additional 432,385 shares during the period. FMR LLC grew 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 buying an additional 231,932 shares during the period. Alecta Pensionsforsakring Omsesidigt acquired a new stake in Acuity Brands during the second quarter valued at $23,178,000. Finally, Bank of New York Mellon Corp grew its position in Acuity Brands by 40.7% during the second quarter. Bank of New York Mellon Corp now owns 522,921 shares of the electronics maker’s stock valued at $60,591,000 after buying an additional 151,295 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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