Acuity Brands (NYSE:AYI) Announces Earnings Results, Beats Estimates By $0.42 EPS

Acuity Brands (NYSE:AYI) issued its earnings results on Tuesday. The electronics maker reported $3.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.42, MarketWatch Earnings reports. The business had revenue of $992.70 million during the quarter, compared to analysts’ expectations of $958.25 million. Acuity Brands had a return on equity of 16.18% and a net margin of 8.39%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.24 EPS.

Shares of NYSE:AYI traded up $3.69 during trading on Thursday, hitting $199.24. 617,843 shares of the stock were exchanged, compared to its average volume of 419,404. The company has a fifty day moving average price of $178.30 and a two-hundred day moving average price of $176.62. The company has a market cap of $7.11 billion, a PE ratio of 26.39, a P/E/G ratio of 1.77 and a beta of 1.64. The company has a current ratio of 2.29, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. Acuity Brands has a 12-month low of $87.90 and a 12-month high of $204.00.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 15th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, October 14th. Acuity Brands’s dividend payout ratio (DPR) is 6.92%.

A hedge fund recently raised its stake in Acuity Brands stock. Morgan Stanley increased its holdings in shares of Acuity Brands, Inc. (NYSE:AYI) by 19.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,817 shares of the electronics maker’s stock after purchasing an additional 18,642 shares during the period. Morgan Stanley owned 0.32% of Acuity Brands worth $21,474,000 as of its most recent filing with the Securities and Exchange Commission. 96.88% of the stock is owned by institutional investors.

Several analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Acuity Brands in a research note on Thursday. They set an “overweight” rating on the stock. Oppenheimer increased their target price on Acuity Brands from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday. Robert W. Baird increased their price target on Acuity Brands from $216.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday. Cowen raised their price target on Acuity Brands from $184.00 to $223.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Credit Suisse Group cut their price target on Acuity Brands from $212.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Acuity Brands presently has an average rating of “Buy” and an average price target of $192.84.

About Acuity Brands

Acuity Brands, Inc engages in the provision of lighting and building management solutions and services. The firm caters commercial, institutional, industrial, infrastructure and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers as well as integrated systems for various indoor and outdoor applications.

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Earnings History for Acuity Brands (NYSE:AYI)

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