Zacks: Brokerages Expect Acuity Brands, Inc. (NYSE:AYI) to Post $2.96 EPS

Analysts expect that Acuity Brands, Inc. (NYSE:AYIGet Rating) will post earnings of $2.96 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Acuity Brands’ earnings, with the lowest EPS estimate coming in at $2.84 and the highest estimate coming in at $3.07. Acuity Brands reported earnings of $2.77 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Acuity Brands will report full-year earnings of $11.92 per share for the current financial year, with EPS estimates ranging from $11.55 to $12.30. For the next fiscal year, analysts expect that the company will post earnings of $12.96 per share, with EPS estimates ranging from $12.45 to $13.40. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Acuity Brands.

Acuity Brands (NYSE:AYIGet Rating) last announced its quarterly earnings data on Tuesday, April 5th. The electronics maker reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The company had revenue of $909.10 million for the quarter, compared to analyst estimates of $886.42 million. Acuity Brands had a return on equity of 18.57% and a net margin of 9.30%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 EPS.

Several research firms have recently commented on AYI. Wells Fargo & Company reduced their price target on Acuity Brands from $237.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 6th. Credit Suisse Group reduced their price target on Acuity Brands from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, March 17th. Robert W. Baird reduced their price target on Acuity Brands from $230.00 to $210.00 in a report on Wednesday, April 6th. William Blair reiterated an “outperform” rating on shares of Acuity Brands in a report on Wednesday, March 30th. Finally, StockNews.com began coverage on Acuity Brands in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $218.00.

Shares of NYSE AYI traded up $2.90 during trading on Friday, hitting $177.86. 145,901 shares of the company were exchanged, compared to its average volume of 296,608. Acuity Brands has a 12-month low of $158.47 and a 12-month high of $224.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 2.25. The company has a fifty day moving average price of $175.30 and a 200-day moving average price of $190.68. The firm has a market capitalization of $6.15 billion, a PE ratio of 18.37, a P/E/G ratio of 1.49 and a beta of 1.56.

The company also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Monday, April 18th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.29%. The ex-dividend date was Thursday, April 14th. Acuity Brands’s dividend payout ratio is currently 5.37%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. grew its position in Acuity Brands by 277.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 136 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Acuity Brands in the 3rd quarter valued at about $28,000. Confluence Wealth Services Inc. acquired a new position in Acuity Brands in the 4th quarter valued at about $34,000. Spire Wealth Management acquired a new position in Acuity Brands in the 4th quarter valued at about $42,000. Finally, Pinebridge Investments L.P. acquired a new position in Acuity Brands in the 4th quarter valued at about $43,000. 93.61% of the stock is owned by institutional investors.

About Acuity Brands (Get Rating)

Acuity Brands, Inc provides lighting and building management solutions in North America and internationally. The company operates through 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 Lithonia Lighting, Holophane, Peerless, Gotham, Mark Architectural Lighting, Winona Lighting, Juno, Indy, Aculux, Healthcare Lighting, Hydrel, American Electric Lighting, Sunoptics, eldoLED, nLight, Sensor Switch, IOTA, A-Light, Cyclone, Eureka, Lumniaire LED, Luminis, Dark to Light, and RELOC Wiring Solutions brands.

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