Acuity Brands, Inc. Expected to Post FY2023 Earnings of $12.49 Per Share (NYSE:AYI)

Posted by on Jun 26th, 2023

Acuity Brands, Inc. (NYSE:AYI – Get Rating) – Analysts at William Blair upped their FY2023 EPS estimates for Acuity Brands in a research report issued on Friday, June 23rd. William Blair analyst R. Merkel now forecasts that the electronics maker will earn $12.49 per share for the year, up from their previous forecast of $12.42. The consensus estimate for Acuity Brands’ current full-year earnings is $12.67 per share.

Other equities analysts have also recently issued reports about the company. Robert W. Baird reduced their price target on Acuity Brands from $192.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, April 5th. The Goldman Sachs Group reduced their target price on Acuity Brands from $201.00 to $173.00 and set a “neutral” rating for the company in a report on Wednesday, April 5th. UBS Group lowered their price target on shares of Acuity Brands from $180.00 to $170.00 in a report on Wednesday, April 5th. Oppenheimer reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Acuity Brands in a research note on Tuesday, April 11th. Finally, Wells Fargo & Company lowered their target price on shares of Acuity Brands from $193.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Acuity Brands has an average rating of “Moderate Buy” and an average target price of $191.88.

Acuity Brands Trading Up 1.6 %

Shares of AYI stock opened at $160.28 on Monday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.27 and a beta of 1.57. The company’s fifty day simple moving average is $159.05 and its two-hundred day simple moving average is $172.20. Acuity Brands has a 1 year low of $148.46 and a 1 year high of $202.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.34 and a quick ratio of 1.61.

Acuity Brands (NYSE:AYI – Get Rating) last announced its quarterly earnings results on Tuesday, April 4th. The electronics maker reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.51. The company had revenue of $943.60 million for the quarter, compared to analysts’ expectations of $959.99 million. Acuity Brands had a net margin of 9.22% and a return on equity of 22.20%.

Acuity Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, April 17th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, April 14th. Acuity Brands’s payout ratio is 4.56%.

Insider Transactions at Acuity Brands

In related news, Director Laura O’shaughnessy acquired 632 shares of the company’s stock in a transaction dated Tuesday, April 11th. The stock was bought at an average cost of $158.05 per share, with a total value of $99,887.60. Following the acquisition, the director now owns 2,111 shares of the company’s stock, valued at approximately $333,643.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of Acuity Brands

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in Acuity Brands by 87.3% during the fourth quarter. Quadrant Capital Group LLC now owns 148 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Acuity Brands by 1,192.3% during the 1st quarter. Global Retirement Partners LLC now owns 168 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Acuity Brands in the 4th quarter worth $33,000. Dark Forest Capital Management LP bought a new stake in Acuity Brands in the first quarter worth $41,000. Finally, Ellevest Inc. boosted its position in Acuity Brands by 35.5% during the fourth quarter. Ellevest Inc. now owns 267 shares of the electronics maker’s stock valued at $44,000 after buying an additional 70 shares during the period. Institutional investors own 95.56% of the company’s stock.

Acuity Brands Company Profile

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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, RELOC Wiring Solutions, and OPTOTRONIC brands.

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