Acuity Brands (AYI) Shares Down 0% on Disappointing Earnings

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%.

Several research firms have recently issued reports on AYI. Robert W. Baird reissued a “hold” rating and issued a $198.00 price objective on shares of Acuity Brands in a research report on Tuesday. Seaport Global Securities reaffirmed a “buy” rating and set a $200.00 price target (down from $225.00) on shares of Acuity Brands in a report on Friday, October 6th. Oppenheimer reaffirmed a “buy” rating and set a $200.00 price target (down from $230.00) on shares of Acuity Brands in a report on Tuesday, October 10th. Wolfe Research lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Finally, Roth Capital set a $130.00 price target on shares of Acuity Brands and gave the company a “sell” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $198.83.

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.

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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.

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