Q3 2024 Earnings Estimate for Acuity Brands, Inc. Issued By Zacks Research (NYSE:AYI)

Acuity Brands, Inc. (NYSE:AYI) – Stock analysts at Zacks Research raised their Q3 2024 earnings per share estimates for Acuity Brands in a report released on Tuesday, April 16th. Zacks Research analyst A. Ram now forecasts that the electronics maker will earn $3.68 per share for the quarter, up from their previous estimate of $3.43. The consensus estimate for Acuity Brands’ current full-year earnings is $14.26 per share. Zacks Research also issued estimates for Acuity Brands’ Q4 2024 earnings at $3.94 EPS, FY2024 earnings at $14.16 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.44 EPS, Q3 2025 earnings at $3.88 EPS, Q4 2025 earnings at $4.19 EPS, FY2025 earnings at $15.06 EPS, Q1 2026 earnings at $3.77 EPS, Q2 2026 earnings at $3.65 EPS and FY2026 earnings at $16.09 EPS.

Several other research firms have also commented on AYI. Robert W. Baird upped their target price on Acuity Brands from $236.00 to $286.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Oppenheimer increased their price objective on Acuity Brands from $250.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. StockNews.com raised Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Wells Fargo & Company increased their price objective on Acuity Brands from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their price objective on Acuity Brands from $227.00 to $261.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Acuity Brands has an average rating of “Moderate Buy” and an average target price of $289.25.

Acuity Brands Stock Down 0.8 %

NYSE:AYI opened at $246.84 on Friday. The firm has a market capitalization of $7.60 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.74 and a beta of 1.49. The stock has a 50 day moving average of $255.68 and a 200-day moving average of $216.14. Acuity Brands has a 52 week low of $149.30 and a 52 week high of $272.74. The company has a current ratio of 2.59, a quick ratio of 1.96 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Acuity Brands

Hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in shares of Acuity Brands by 77.3% in the fourth quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Acuity Brands during the fourth quarter worth $29,000. Raleigh Capital Management Inc. increased its position in Acuity Brands by 5,666.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after buying an additional 170 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Acuity Brands during the fourth quarter worth $33,000. Finally, Global Retirement Partners LLC increased its position in Acuity Brands by 85.7% during the fourth quarter. Global Retirement Partners LLC now owns 221 shares of the electronics maker’s stock worth $50,000 after buying an additional 102 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Karen J. Holcom sold 7,745 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $262.24, for a total value of $2,031,048.80. Following the transaction, the chief financial officer now directly owns 20,287 shares of the company’s stock, valued at $5,320,062.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Acuity Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Acuity Brands’s payout ratio is currently 5.02%.

About Acuity Brands

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.