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

Acuity Brands, Inc. (NYSE:AYI) – Equities research analysts at Zacks Research upped their Q3 2024 earnings per share estimates for Acuity Brands in a note issued to investors on Friday, April 19th. Zacks Research analyst A. Ram now forecasts that the electronics maker will earn $3.70 per share for the quarter, up from their previous estimate of $3.68. The consensus estimate for Acuity Brands’ current full-year earnings is $14.48 per share. Zacks Research also issued estimates for Acuity Brands’ FY2024 earnings at $14.18 EPS, Q1 2025 earnings at $3.56 EPS, Q2 2025 earnings at $3.45 EPS, Q3 2025 earnings at $3.90 EPS, Q4 2025 earnings at $4.20 EPS, Q1 2026 earnings at $3.78 EPS, Q2 2026 earnings at $3.66 EPS and FY2026 earnings at $16.14 EPS.

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

Acuity Brands Price Performance

NYSE:AYI opened at $249.54 on Monday. The company has a quick ratio of 1.96, a current ratio of 2.59 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $255.97 and its two-hundred day moving average price is $217.80. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 1.71 and a beta of 1.49. Acuity Brands has a 12-month low of $149.30 and a 12-month high of $272.74.

Acuity Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a dividend of $0.15 per share. 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 dividend payout ratio (DPR) is currently 5.02%.

Insider Transactions at Acuity Brands

In other news, CFO Karen J. Holcom sold 7,745 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the transaction, the chief financial officer now owns 20,287 shares in the company, valued at $5,320,062.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Acuity Brands

A number of large investors have recently made changes to their positions in AYI. Boston Trust Walden Corp increased its stake in Acuity Brands by 2.1% during the 4th quarter. Boston Trust Walden Corp now owns 224,289 shares of the electronics maker’s stock worth $45,941,000 after acquiring an additional 4,694 shares during the period. Wellington Management Group LLP raised its holdings in Acuity Brands by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,103,793 shares of the electronics maker’s stock valued at $187,987,000 after acquiring an additional 161,818 shares in the last quarter. Pathstone Family Office LLC raised its holdings in Acuity Brands by 12.7% in the 3rd quarter. Pathstone Family Office LLC now owns 6,936 shares of the electronics maker’s stock valued at $1,181,000 after acquiring an additional 784 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Acuity Brands in the 3rd quarter valued at $414,000. Finally, Earnest Partners LLC raised its holdings in Acuity Brands by 6.0% in the 3rd quarter. Earnest Partners LLC now owns 285,055 shares of the electronics maker’s stock valued at $48,548,000 after acquiring an additional 16,042 shares in the last quarter. Institutional investors own 98.21% of the company’s stock.

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.