Brokerages forecast that Acuity Brands, Inc. (NYSE:AYI) will post $931.72 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Acuity Brands’ earnings, with the lowest sales estimate coming in at $870.00 million and the highest estimate coming in at $967.10 million. Acuity Brands posted sales of $842.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, January 8th.
According to Zacks, analysts expect that Acuity Brands will report full year sales of $3.88 billion for the current financial year, with estimates ranging from $3.64 billion to $3.99 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.13 billion, with estimates ranging from $4.06 billion to $4.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Acuity Brands.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Wednesday, October 3rd. The electronics maker reported $2.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.56 by $0.12. Acuity Brands had a return on equity of 20.30% and a net margin of 9.50%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company earned $2.55 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year.
Several research analysts recently commented on AYI shares. Wells Fargo & Co raised Acuity Brands from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $187.00 in a research note on Thursday, September 20th. Robert W. Baird set a $175.00 price objective on Acuity Brands and gave the company a “buy” rating in a research note on Thursday, October 4th. Credit Suisse Group started coverage on Acuity Brands in a research note on Friday, October 12th. They issued a “neutral” rating and a $135.00 price objective for the company. ValuEngine raised Acuity Brands from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, Goldman Sachs Group downgraded Acuity Brands from a “neutral” rating to a “sell” rating and cut their target price for the stock from $141.00 to $126.00 in a research note on Wednesday, September 12th. Two research 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. Acuity Brands currently has an average rating of “Hold” and a consensus price target of $150.89.
NYSE AYI traded down $0.10 during mid-day trading on Friday, hitting $123.97. The stock had a trading volume of 496,900 shares, compared to its average volume of 793,731. Acuity Brands has a twelve month low of $109.98 and a twelve month high of $186.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.77. The company has a market cap of $5.02 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.35 and a beta of 1.54.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Thursday, October 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Wednesday, October 17th. Acuity Brands’s dividend payout ratio (DPR) is presently 6.33%.
Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors increased its stake in shares of Acuity Brands by 280.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,172 shares of the electronics maker’s stock worth $136,000 after acquiring an additional 864 shares during the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Acuity Brands by 72.2% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,391 shares of the electronics maker’s stock worth $161,000 after purchasing an additional 583 shares during the period. Eagle Boston Investment Management Inc. purchased a new position in shares of Acuity Brands during the 2nd quarter worth $206,000. Capital Investment Advisory Services LLC purchased a new position in shares of Acuity Brands during the 3rd quarter worth $214,000. Finally, Veritable L.P. purchased a new position in shares of Acuity Brands during the 3rd quarter worth $214,000.
Acuity Brands Company Profile
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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