Acuity Brands Inc. (NYSE:AYI) issued its quarterly earnings results on Wednesday. The company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by $0.18. Acuity Brands had a net margin of 8.57% and a return on equity of 20.66%. The firm had revenue of $925.50 million for the quarter, compared to analysts’ expectations of $946.53 million. During the same period in the prior year, the company earned $1.63 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis.
Acuity Brands (NYSE:AYI) opened at 255.00 on Wednesday. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89. The stock’s 50 day moving average price is $267.49 and its 200 day moving average price is $255.67. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 41.66 and a beta of 1.46.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.20%. Acuity Brands’s dividend payout ratio (DPR) is presently 8.48%.
AYI has been the topic of a number of recent research reports. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $295.00 price target on shares of Acuity Brands in a research report on Friday, September 16th. Canaccord Genuity reaffirmed a “buy” rating and set a $305.00 price target on shares of Acuity Brands in a research report on Friday, September 23rd. Roth Capital began coverage on Acuity Brands in a research report on Thursday, August 25th. They set a “neutral” rating and a $275.00 price target on the stock. Zacks Investment Research lowered Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, June 7th. Finally, William Blair reiterated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $279.10.
In other news, CEO Vernon J. Nagel sold 65,060 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $268.30, for a total transaction of $17,455,598.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard K. Reece sold 33,430 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $269.07, for a total value of $8,995,010.10. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in AYI. Segall Bryant & Hamill LLC raised its stake in shares of Acuity Brands by 1.5% in the second quarter. Segall Bryant & Hamill LLC now owns 1,362 shares of the company’s stock worth $338,000 after buying an additional 20 shares during the last quarter. Pacer Advisors Inc. raised its stake in Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock worth $191,000 after buying an additional 65 shares in the last quarter. Veritable L.P. raised its stake in Acuity Brands by 10.9% in the second quarter. Veritable L.P. now owns 2,376 shares of the company’s stock worth $589,000 after buying an additional 234 shares in the last quarter. Point72 Asia Hong Kong Ltd raised its stake in Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock worth $174,000 after buying an additional 500 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in Acuity Brands during the second quarter worth $174,000. Hedge funds and other institutional investors own 93.26% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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