Equities analysts forecast that Acuity Brands Inc (NYSE:AYI) will announce earnings of $2.17 per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Acuity Brands’ earnings, with the lowest EPS estimate coming in at $1.97 and the highest estimate coming in at $2.55. Acuity Brands posted earnings of $2.00 per share during the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The business is expected to announce its next quarterly earnings report on Monday, January 8th.
According to Zacks, analysts expect that Acuity Brands will report full year earnings of $9.15 per share for the current financial year, with EPS estimates ranging from $9.02 to $9.45. For the next year, analysts anticipate that the company will post earnings of $9.90 per share, with EPS estimates ranging from $9.65 to $10.35. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Acuity Brands.
Acuity Brands (NYSE:AYI) last released its quarterly earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.25. The business had revenue of $957.60 million during the quarter, compared to analysts’ expectations of $975.05 million. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS.
A number of equities analysts have recently commented on the company. Roth Capital set a $130.00 target price on Acuity Brands and gave the stock a “sell” rating in a report on Thursday, October 5th. Wells Fargo & Company cut Acuity Brands from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $225.00 to $185.00 in a report on Friday, September 15th. BidaskClub cut Acuity Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Seaport Global Securities reiterated a “buy” rating and issued a $200.00 target price (down previously from $225.00) on shares of Acuity Brands in a report on Friday, October 6th. Finally, Wolfe Research cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $197.17.
In related news, EVP Mark A. Black sold 7,441 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Eagle Asset Management Inc. lifted its stake in shares of Acuity Brands by 2.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 366,528 shares of the electronics maker’s stock worth $74,507,000 after acquiring an additional 7,657 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Acuity Brands by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,934 shares of the electronics maker’s stock worth $10,557,000 after acquiring an additional 1,745 shares during the last quarter. Peloton Wealth Strategists bought a new stake in shares of Acuity Brands during the 2nd quarter worth approximately $1,235,000. Handelsbanken Fonder AB lifted its stake in shares of Acuity Brands by 22.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,916 shares of the electronics maker’s stock worth $9,235,000 after acquiring an additional 10,000 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Acuity Brands by 32.3% during the 3rd quarter. First Trust Advisors LP now owns 41,347 shares of the electronics maker’s stock worth $7,082,000 after acquiring an additional 10,097 shares during the last quarter.
Shares of Acuity Brands (AYI) traded up $6.30 during trading on Friday, hitting $171.65. The stock had a trading volume of 849,591 shares, compared to its average volume of 429,020. The stock has a market cap of $7,235.56, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.80 and a beta of 1.44. The company has a current ratio of 2.07, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Acuity Brands has a 12-month low of $153.28 and a 12-month high of $251.78.
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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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