Zacks: Brokerages Expect Acuity Brands, Inc. (AYI) Will Post Earnings of $2.24 Per Share

Equities research analysts predict that Acuity Brands, Inc. (NYSE:AYI) will report $2.24 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Acuity Brands’ earnings, with the lowest EPS estimate coming in at $1.96 and the highest estimate coming in at $2.81. Acuity Brands posted earnings per share of $1.77 during the same quarter last year, which indicates a positive year over year growth rate of 26.6%. The business is expected to issue its next earnings results on Tuesday, April 3rd.

On average, analysts expect that Acuity Brands will report full year earnings of $9.52 per share for the current financial year, with EPS estimates ranging from $9.05 to $10.20. For the next financial year, analysts anticipate that the company will post earnings of $10.20 per share, with EPS estimates ranging from $8.75 to $11.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Acuity Brands.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings results on Tuesday, January 9th. The electronics maker reported $1.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.16). Acuity Brands had a return on equity of 20.08% and a net margin of 8.91%.

A number of brokerages have weighed in on AYI. JMP Securities upgraded Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price target for the company in a report on Tuesday, October 3rd. KeyCorp began coverage on Acuity Brands in a report on Friday, October 13th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded Acuity Brands from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Robert W. Baird downgraded Acuity Brands from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $212.00 to $178.00 in a report on Tuesday, September 19th. Finally, Wolfe Research downgraded Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $196.23.

In other news, EVP Mark A. Black sold 7,441 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $161.32, for a total transaction of $1,200,382.12. Following the transaction, the executive vice president now owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AYI. Tower Research Capital LLC TRC lifted its position in Acuity Brands by 661.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 548 shares of the electronics maker’s stock valued at $111,000 after acquiring an additional 476 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in Acuity Brands by 11.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 586 shares of the electronics maker’s stock valued at $119,000 after acquiring an additional 58 shares in the last quarter. QS Investors LLC lifted its position in Acuity Brands by 1.2% in the 2nd quarter. QS Investors LLC now owns 588 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 7 shares in the last quarter. First Bank & Trust lifted its position in Acuity Brands by 183.7% in the 3rd quarter. First Bank & Trust now owns 746 shares of the electronics maker’s stock valued at $128,000 after acquiring an additional 483 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its position in Acuity Brands by 20.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 830 shares of the electronics maker’s stock valued at $168,000 after acquiring an additional 142 shares in the last quarter.

Shares of Acuity Brands (NYSE:AYI) traded up $3.21 during trading on Friday, reaching $163.80. The company’s stock had a trading volume of 1,018,942 shares, compared to its average volume of 1,582,273. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.65 and a current ratio of 2.23. Acuity Brands has a 52-week low of $153.28 and a 52-week high of $225.36. The firm has a market cap of $6,930.00, a P/E ratio of 22.50, a P/E/G ratio of 1.60 and a beta of 1.43.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 22nd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, January 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.32%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.14%.

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Acuity Brands Company Profile

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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