Brokerages Expect Acuity Brands, Inc. (AYI) to Post $2.17 EPS

Brokerages expect that Acuity Brands, Inc. (NYSE:AYI) will announce earnings of $2.17 per share for the current quarter, Zacks reports. Seven analysts have made estimates for Acuity Brands’ earnings, with the highest EPS estimate coming in at $2.44 and the lowest estimate coming in at $2.04. Acuity Brands reported earnings of $2.15 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The business is expected to report its next quarterly earnings results on Thursday, July 5th.

On average, analysts expect that Acuity Brands will report full year earnings of $8.61 per share for the current year, with EPS estimates ranging from $8.25 to $8.85. For the next year, analysts forecast that the business will post earnings of $9.61 per share, with EPS estimates ranging from $8.25 to $11.27. Zacks’ EPS averages are an average based on a survey of research analysts that cover Acuity Brands.

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Acuity Brands (NYSE:AYI) last released its earnings results on Wednesday, April 4th. The electronics maker reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.06). Acuity Brands had a net margin of 9.68% and a return on equity of 20.56%. The firm had revenue of $832.10 million for the quarter, compared to analysts’ expectations of $799.33 million. During the same quarter last year, the firm posted $1.77 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year.

Several analysts have commented on AYI shares. Robert W. Baird reiterated a “hold” rating and issued a $198.00 price target on shares of Acuity Brands in a research note on Tuesday, January 9th. Williams Capital cut shares of Acuity Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $204.00 to $175.00 in a research note on Wednesday, January 10th. ValuEngine cut shares of Acuity Brands from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Roth Capital set a $105.00 price target on shares of Acuity Brands and gave the stock a “sell” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $177.82.

AYI stock traded down $0.38 during mid-day trading on Friday, hitting $130.80. The company had a trading volume of 530,236 shares, compared to its average volume of 910,682. The stock has a market cap of $5,530.32, a P/E ratio of 16.43, a PEG ratio of 1.73 and a beta of 1.33. Acuity Brands has a 12-month low of $119.02 and a 12-month high of $208.82. The company has a quick ratio of 1.51, a current ratio of 2.15 and a debt-to-equity ratio of 0.22.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 17th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, April 16th. Acuity Brands’s dividend payout ratio is 6.53%.

Acuity Brands announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 4th that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Acuity Brands by 13.9% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,213 shares of the electronics maker’s stock valued at $4,789,000 after buying an additional 3,322 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Acuity Brands by 13.1% during the 4th quarter. Toronto Dominion Bank now owns 18,156 shares of the electronics maker’s stock valued at $3,194,000 after buying an additional 2,105 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Acuity Brands by 4.8% during the 4th quarter. Gabelli Funds LLC now owns 17,500 shares of the electronics maker’s stock valued at $3,080,000 after buying an additional 800 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Acuity Brands by 9.6% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 7,926 shares of the electronics maker’s stock valued at $1,394,000 after buying an additional 696 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Acuity Brands by 38.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 228,620 shares of the electronics maker’s stock valued at $39,159,000 after buying an additional 63,424 shares in the last quarter.

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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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