Brokerages expect Acuity Brands, Inc. (NYSE:AYI) to post sales of $883.55 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Acuity Brands’ earnings, with the highest sales estimate coming in at $905 million and the lowest estimate coming in at $860 million. Acuity Brands reported sales of $851.5 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The firm is expected to report its next earnings report on Wednesday, July 5th.
On average, analysts expect that Acuity Brands will report full year sales of $883.55 million for the current financial year, with estimates ranging from $3.47 billion to $3.55 billion. For the next financial year, analysts forecast that the company will post sales of $3.8 billion per share, with estimates ranging from $3.71 billion to $3.91 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Acuity Brands.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Tuesday, April 4th. The electronics maker reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by $0.06. The firm earned $804.70 million during the quarter, compared to the consensus estimate of $827.22 million. Acuity Brands had a net margin of 8.93% and a return on equity of 20.71%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share.
Several research firms have commented on AYI. Goldman Sachs Group Inc cut shares of Acuity Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $256.00 to $186.00 in a research report on Wednesday, April 5th. Canaccord Genuity lowered their price target on shares of Acuity Brands from $240.00 to $209.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $215.00 target price (down previously from $265.00) on shares of Acuity Brands in a report on Thursday, April 6th. Guggenheim started coverage on shares of Acuity Brands in a report on Tuesday, April 11th. They set a “neutral” rating and a $181.00 target price on the stock. Finally, JMP Securities reissued an “underperform” rating and set a $155.00 target price (down previously from $185.00) on shares of Acuity Brands in a report on Thursday, April 6th. Three analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $230.86.
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In other Acuity Brands news, Director Ray M. Robinson sold 1,100 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $206.19, for a total value of $226,809.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at $269,490.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. First Republic Investment Management Inc. increased its stake in Acuity Brands by 0.3% in the fourth quarter. First Republic Investment Management Inc. now owns 2,028 shares of the electronics maker’s stock valued at $468,000 after buying an additional 7 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Acuity Brands by 0.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,527 shares of the electronics maker’s stock valued at $583,000 after buying an additional 20 shares during the period. Van ECK Associates Corp increased its position in shares of Acuity Brands by 8.0% in the fourth quarter. Van ECK Associates Corp now owns 570 shares of the electronics maker’s stock valued at $132,000 after buying an additional 42 shares during the period. Norinchukin Bank The increased its position in shares of Acuity Brands by 2.1% in the third quarter. Norinchukin Bank The now owns 2,349 shares of the electronics maker’s stock valued at $622,000 after buying an additional 49 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Acuity Brands by 6.7% in the third quarter. Pacer Advisors Inc. now owns 823 shares of the electronics maker’s stock valued at $218,000 after buying an additional 52 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.
Shares of Acuity Brands (NYSE:AYI) traded up 0.15% during mid-day trading on Friday, hitting $177.65. The stock had a trading volume of 615,010 shares. The firm’s 50 day moving average price is $195.27 and its 200 day moving average price is $222.33. The company has a market cap of $7.78 billion, a P/E ratio of 25.53 and a beta of 1.33. Acuity Brands has a 1-year low of $169.53 and a 1-year high of $280.89.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 17th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, April 12th. Acuity Brands’s dividend payout ratio is presently 7.50%.
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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