Acuity Brands (NYSE:AYI) Announces Earnings Results

Acuity Brands (NYSE:AYI) issued its earnings results on Tuesday. The electronics maker reported $4.30 EPS for the quarter, beating analysts’ consensus estimates of $3.90 by $0.40, Briefing.com reports. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company posted $3.74 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Stock Performance

Shares of NYSE AYI traded down $2.17 during trading hours on Thursday, hitting $298.03. 245,585 shares of the company’s stock were exchanged, compared to its average volume of 256,027. Acuity Brands has a 1-year low of $156.84 and a 1-year high of $303.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.77 and a quick ratio of 2.15. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.77 and a beta of 1.41. The company’s 50-day moving average price is $250.76 and its 200-day moving average price is $253.78.

Acuity Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, October 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.20%. Acuity Brands’s dividend payout ratio is presently 4.88%.

Analyst Upgrades and Downgrades

AYI has been the subject of several recent analyst reports. StockNews.com downgraded Acuity Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 27th. Robert W. Baird upped their price target on Acuity Brands from $280.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on Acuity Brands from $289.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group upped their price target on Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer upped their price target on Acuity Brands from $315.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Acuity Brands has a consensus rating of “Hold” and an average target price of $324.00.

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.