Acuity Brands, Inc. (NYSE:AYI) shares fell 0% on Tuesday following a dissappointing earnings announcement. The company traded as low as $157.15 and last traded at $157.95. 5,310,000 shares traded hands during mid-day trading, an increase of 803% from the average session volume of 588,145 shares. The stock had previously closed at $157.95.
The electronics maker reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.17). Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The business had revenue of $842.80 million during the quarter, compared to analyst estimates of $874.43 million. During the same period in the previous year, the company earned $2.00 EPS. Acuity Brands’s revenue was down 1.0% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 22nd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, January 19th. Acuity Brands’s payout ratio is currently 7.00%.
In related news, EVP Mark A. Black sold 7,441 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the completion of the sale, the executive vice president now directly owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. QS Investors LLC grew its holdings in Acuity Brands by 1.2% during the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 7 shares in the last quarter. Sentry Investment Management LLC grew its holdings in Acuity Brands by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 3,301 shares of the electronics maker’s stock worth $671,000 after acquiring an additional 35 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Acuity Brands by 1.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,326 shares of the electronics maker’s stock worth $676,000 after acquiring an additional 55 shares in the last quarter. MML Investors Services LLC grew its holdings in Acuity Brands by 4.8% during the 2nd quarter. MML Investors Services LLC now owns 1,233 shares of the electronics maker’s stock worth $251,000 after acquiring an additional 56 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Acuity Brands by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 6,772 shares of the electronics maker’s stock worth $1,374,000 after acquiring an additional 57 shares in the last quarter.
The firm has a market cap of $6,660.00, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.07 and a quick ratio of 1.53.
COPYRIGHT VIOLATION NOTICE: This story was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.com-unik.info/2018/01/09/acuity-brands-ayi-shares-down-0-on-disappointing-earnings.html.
Acuity Brands Company Profile
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.
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.