Acuity Brands (NYSE:AYI) Announces Earnings Results

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

Acuity Brands Stock Up 0.3 %

Shares of Acuity Brands stock opened at $300.21 on Thursday. Acuity Brands has a 12-month low of $156.84 and a 12-month high of $303.04. The firm has a market capitalization of $9.24 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.41. The company has a quick ratio of 2.15, a current ratio of 2.77 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $250.76 and its 200-day moving average is $253.78.

Acuity Brands Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on AYI shares. 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 boosted their target price on Acuity Brands from $280.00 to $318.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company increased their price target on Acuity Brands from $289.00 to $305.00 and gave the company an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price objective on Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer raised their target price on Acuity Brands from $315.00 to $370.00 and gave the company 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.