Acuity Brands (NYSE:AYI) Releases Earnings Results, Beats Estimates By $0.40 EPS

by · The Markets Daily

Acuity Brands (NYSE:AYI – Get Free Report) posted its quarterly earnings results on Tuesday. The electronics maker reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.40, Briefing.com reports. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $3.74 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Stock Down 0.4 %

Shares of NYSE AYI traded down $1.31 during trading hours on Thursday, hitting $298.89. 40,985 shares of the stock were exchanged, compared to its average volume of 254,955. Acuity Brands has a 12 month low of $156.84 and a 12 month high of $303.04. The firm has a fifty day moving average price of $250.76 and a 200-day moving average price of $253.78. The company has a quick ratio of 2.15, a current ratio of 2.77 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.20 billion, a PE ratio of 24.41, a PEG ratio of 1.77 and a beta of 1.41.

Acuity Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Friday, October 18th. Acuity Brands’s dividend payout ratio is currently 4.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AYI shares. Robert W. Baird lifted their target price on Acuity Brands from $280.00 to $318.00 and gave the company a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group upped their price objective on shares of Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Acuity Brands from $289.00 to $305.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com cut shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 27th. Finally, Oppenheimer lifted their price objective on shares of Acuity Brands from $315.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Acuity Brands currently has a consensus rating of “Hold” and an average price target of $324.00.

Read Our Latest Stock Analysis on AYI

Acuity Brands Company Profile

(Get Free Report)

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.

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