Acuity Brands (NYSE:AYI) Posts Quarterly Earnings Results, Beats Estimates By $0.74 EPS

Acuity Brands (NYSE:AYIGet Rating) issued its quarterly earnings data on Thursday. The electronics maker reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.74, Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $988.15 million. Acuity Brands had a net margin of 9.30% and a return on equity of 18.57%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.62 EPS.

AYI stock opened at $157.84 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.25 and a debt-to-equity ratio of 0.24. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.39 and a beta of 1.56. The business has a fifty day simple moving average of $167.75 and a 200-day simple moving average of $183.14. Acuity Brands has a 52 week low of $142.71 and a 52 week high of $224.59.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a $0.13 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.33%. Acuity Brands’s dividend payout ratio (DPR) is presently 5.37%.

A number of brokerages have commented on AYI. William Blair cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Thursday, June 23rd. StockNews.com cut Acuity Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday. Robert W. Baird upped their target price on shares of Acuity Brands from $188.00 to $190.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company decreased their price target on shares of Acuity Brands from $200.00 to $181.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Credit Suisse Group cut their price objective on shares of Acuity Brands from $241.00 to $211.00 and set an “outperform” rating for the company in a research report on Monday, June 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.67.

In other Acuity Brands news, SVP Barry R. Goldman sold 906 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $177.47, for a total transaction of $160,787.82. Following the completion of the sale, the senior vice president now owns 4,749 shares of the company’s stock, valued at $842,805.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in AYI. Zions Bancorporation N.A. grew its stake in Acuity Brands by 2,926.7% during the first quarter. Zions Bancorporation N.A. now owns 454 shares of the electronics maker’s stock worth $86,000 after buying an additional 439 shares during the period. Cibc World Market Inc. boosted its position in Acuity Brands by 10.3% during the 1st quarter. Cibc World Market Inc. now owns 1,224 shares of the electronics maker’s stock worth $232,000 after purchasing an additional 114 shares during the period. Guggenheim Capital LLC increased its holdings in Acuity Brands by 42.4% in the 1st quarter. Guggenheim Capital LLC now owns 2,247 shares of the electronics maker’s stock valued at $425,000 after purchasing an additional 669 shares in the last quarter. Point72 Hong Kong Ltd raised its position in Acuity Brands by 79.2% in the first quarter. Point72 Hong Kong Ltd now owns 3,031 shares of the electronics maker’s stock valued at $574,000 after purchasing an additional 1,340 shares during the period. Finally, Echo Street Capital Management LLC lifted its stake in shares of Acuity Brands by 91.3% during the first quarter. Echo Street Capital Management LLC now owns 3,977 shares of the electronics maker’s stock worth $753,000 after purchasing an additional 1,898 shares in the last quarter. 93.61% of the stock is currently owned by hedge funds and other 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.

Further Reading

Earnings History for Acuity Brands (NYSE:AYI)

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