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

Acuity Brands, Inc. (NYSE:AYI) – Investment analysts at Zacks Research upped their Q3 2024 EPS estimates for Acuity Brands in a research note issued on Tuesday, April 16th. Zacks Research analyst A. Ram now forecasts that the electronics maker will post earnings per share of $3.68 for the quarter, up from their prior forecast of $3.43. The consensus estimate for Acuity Brands’ current full-year earnings is $14.26 per share. Zacks Research also issued estimates for Acuity Brands’ Q4 2024 earnings at $3.94 EPS, FY2024 earnings at $14.16 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.44 EPS, Q3 2025 earnings at $3.88 EPS, Q4 2025 earnings at $4.19 EPS, FY2025 earnings at $15.06 EPS, Q1 2026 earnings at $3.77 EPS, Q2 2026 earnings at $3.65 EPS and FY2026 earnings at $16.09 EPS.

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

Acuity Brands Price Performance

Shares of NYSE AYI opened at $246.84 on Friday. Acuity Brands has a twelve month low of $149.30 and a twelve month high of $272.74. The firm has a fifty day simple moving average of $255.68 and a 200 day simple moving average of $216.14. The company has a market capitalization of $7.60 billion, a PE ratio of 20.64, a P/E/G ratio of 1.74 and a beta of 1.49. The company has a quick ratio of 1.96, a current ratio of 2.59 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Acuity Brands by 4.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,186 shares of the electronics maker’s stock valued at $1,662,000 after buying an additional 256 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Acuity Brands by 1.4% during the first quarter. State of Michigan Retirement System now owns 7,494 shares of the electronics maker’s stock valued at $2,014,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Acuity Brands during the first quarter valued at about $208,000. Park Avenue Securities LLC grew its holdings in shares of Acuity Brands by 3.1% during the first quarter. Park Avenue Securities LLC now owns 3,760 shares of the electronics maker’s stock valued at $1,010,000 after buying an additional 112 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Acuity Brands during the first quarter worth about $248,000. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Acuity Brands

In other news, CFO Karen J. Holcom sold 7,745 shares of Acuity Brands stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the completion of the transaction, the chief financial officer now directly owns 20,287 shares in the company, valued at $5,320,062.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Acuity Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, April 16th. Acuity Brands’s dividend payout ratio (DPR) is currently 5.02%.

Acuity Brands Company Profile

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.