Acuity Brands (NYSE:AYI) Posts Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Acuity Brands (NYSE:AYI) released its earnings results on Thursday. The electronics maker reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.44, MarketWatch Earnings reports. The business had revenue of $926.10 million for the quarter, compared to the consensus estimate of $879.24 million. Acuity Brands had a net margin of 8.85% and a return on equity of 17.44%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.87 earnings per share.

AYI stock traded up $3.94 during trading hours on Friday, hitting $214.63. The company’s stock had a trading volume of 638,254 shares, compared to its average volume of 298,027. The company has a quick ratio of 1.66, a current ratio of 2.23 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.51 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.61. Acuity Brands has a 12 month low of $114.54 and a 12 month high of $224.59. The stock has a 50 day moving average price of $209.98 and a two-hundred day moving average price of $191.87.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Thursday, January 20th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.24%. The ex-dividend date is Wednesday, January 19th. Acuity Brands’s dividend payout ratio is 6.19%.

Several research firms have recently weighed in on AYI. Wells Fargo & Company began coverage on shares of Acuity Brands in a research report on Thursday, October 7th. They issued an “overweight” rating and a $218.00 target price on the stock. Oppenheimer boosted their price objective on shares of Acuity Brands from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, October 7th. Robert W. Baird reaffirmed a “buy” rating on shares of Acuity Brands in a research report on Wednesday, November 24th. UBS Group boosted their price objective on shares of Acuity Brands from $206.00 to $213.00 and gave the company a “neutral” rating in a research report on Tuesday, January 4th. Finally, Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating and set a $211.00 price objective on the stock. in a research report on Wednesday, December 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $201.77.

In other Acuity Brands news, SVP Barry R. Goldman sold 962 shares of the business’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $221.61, for a total value of $213,188.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

An institutional investor recently raised its position in Acuity Brands stock. Morgan Stanley boosted its stake in shares of Acuity Brands, Inc. (NYSE:AYI) by 19.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,817 shares of the electronics maker’s stock after purchasing an additional 18,642 shares during the quarter. Morgan Stanley owned 0.32% of Acuity Brands worth $21,474,000 at the end of the most recent quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.

Acuity Brands Company Profile

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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