Acuity Brands Inc. (NYSE:AYI) – Equities researchers at Roth Capital lowered their Q1 2017 EPS estimates for Acuity Brands in a report issued on Wednesday. Roth Capital analyst C. Irwin now forecasts that the firm will earn $1.95 per share for the quarter, down from their prior estimate of $2.13. Roth Capital has a “Neutral” rating and a $250.00 price objective on the stock. Roth Capital also issued estimates for Acuity Brands’ Q2 2017 earnings at $1.85 EPS, Q3 2017 earnings at $2.20 EPS and Q4 2017 earnings at $2.35 EPS.
Acuity Brands (NYSE:AYI) last issued its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.39 by $0.18. The firm earned $925.50 million during the quarter. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. Acuity Brands’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS.
A number of other research analysts also recently weighed in on AYI. Zacks Investment Research upgraded Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 target price on the stock in a report on Friday, June 24th. Canaccord Genuity reiterated a “buy” rating on shares of Acuity Brands in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $295.00 price target on shares of Acuity Brands in a research note on Thursday, June 30th. Credit Agricole SA restated an “outperform” rating and issued a $270.00 price target on shares of Acuity Brands in a research note on Friday, July 1st. Finally, William Blair restated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Acuity Brands currently has a consensus rating of “Buy” and a consensus target price of $275.36.
Shares of Acuity Brands (NYSE:AYI) opened at 240.74 on Friday. The firm has a 50 day moving average price of $264.61 and a 200 day moving average price of $255.63. Acuity Brands has a 52 week low of $169.42 and a 52 week high of $280.89. The company has a market capitalization of $10.47 billion, a price-to-earnings ratio of 39.33 and a beta of 1.46.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.22%. Acuity Brands’s payout ratio is 7.83%.
In other news, CEO Vernon J. Nagel sold 65,060 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $268.30, for a total transaction of $17,455,598.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard K. Reece sold 33,430 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $269.07, for a total value of $8,995,010.10. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AYI. Vanguard Group Inc. boosted its position in Acuity Brands by 21.0% in the second quarter. Vanguard Group Inc. now owns 3,830,254 shares of the company’s stock valued at $949,749,000 after buying an additional 663,791 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Acuity Brands by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 2,311,317 shares of the company’s stock worth $573,116,000 after buying an additional 196,804 shares in the last quarter. State Street Corp boosted its position in shares of Acuity Brands by 13.2% in the second quarter. State Street Corp now owns 1,619,301 shares of the company’s stock worth $401,529,000 after buying an additional 188,661 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Acuity Brands by 0.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,340,361 shares of the company’s stock worth $332,356,000 after buying an additional 5,525 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Acuity Brands by 3.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,318,021 shares of the company’s stock worth $287,513,000 after buying an additional 43,167 shares in the last quarter. 93.26% of the stock is currently owned by hedge funds and other institutional investors.
Acuity Brands Company Profile
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
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