Acuity Brands (NYSE:AYI) Posts Quarterly Earnings Results, Beats Expectations By $0.42 EPS

Acuity Brands (NYSE:AYI) issued its earnings results on Tuesday. The electronics maker reported $3.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.42, MarketWatch Earnings reports. The firm had revenue of $992.70 million for the quarter, compared to analysts’ expectations of $958.25 million. Acuity Brands had a net margin of 8.39% and a return on equity of 16.18%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 earnings per share.

Shares of NYSE:AYI traded up $5.65 during midday trading on Thursday, hitting $201.20. 1,958 shares of the stock were exchanged, compared to its average volume of 418,371. The stock has a market cap of $7.18 billion, a P/E ratio of 25.90, a PEG ratio of 1.77 and a beta of 1.64. The company has a current ratio of 2.29, a quick ratio of 1.74 and a debt-to-equity ratio of 0.24. Acuity Brands has a twelve month low of $87.90 and a twelve month high of $204.00. The company has a 50 day moving average price of $177.77 and a 200-day moving average price of $176.47.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 15th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, October 14th. Acuity Brands’s dividend payout ratio (DPR) is presently 6.92%.

AYI has been the topic of several recent analyst reports. Cowen increased their price target on shares of Acuity Brands from $184.00 to $223.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird increased their price target on shares of Acuity Brands from $216.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer increased their price target on shares of Acuity Brands from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Credit Suisse Group dropped their price target on shares of Acuity Brands from $212.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $192.84.

An institutional investor recently raised its position in Acuity Brands stock. Morgan Stanley boosted its position in Acuity Brands, Inc. (NYSE:AYI) by 19.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,817 shares of the electronics maker’s stock after purchasing an additional 18,642 shares during the quarter. Morgan Stanley owned about 0.32% of Acuity Brands worth $21,474,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Acuity Brands Company Profile

Acuity Brands, Inc engages in the provision of lighting and building management solutions and services. The firm caters commercial, institutional, industrial, infrastructure and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers as well as integrated systems for various indoor and outdoor applications.

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Earnings History for Acuity Brands (NYSE:AYI)

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