Acuity Brands (NYSE:AYI) Posts Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Acuity Brands (NYSE:AYI) released its quarterly earnings data on Friday. The electronics maker reported $2.85 EPS for the quarter, topping the consensus estimate of $2.41 by $0.44, MarketWatch Earnings reports. The business had revenue of $926.10 million for the quarter, compared to analyst estimates of $879.24 million. Acuity Brands had a net margin of 8.85% and a return on equity of 17.44%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 EPS.

Shares of AYI stock traded up $6.99 during mid-day trading on Friday, reaching $217.68. 6,647 shares of the company were exchanged, compared to its average volume of 319,025. Acuity Brands has a fifty-two week low of $114.54 and a fifty-two week high of $224.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.66 and a current ratio of 2.23. The company has a market capitalization of $7.62 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.01 and a beta of 1.61. The business’s 50 day simple moving average is $209.79 and its 200 day simple moving average is $191.62.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Thursday, January 20th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.24%. Acuity Brands’s payout ratio is currently 6.19%.

AYI has been the topic of a number of recent research reports. Cowen upped their target price on shares of Acuity Brands from $184.00 to $223.00 and gave the company an “outperform” rating in a report on Thursday, October 7th. Robert W. Baird reiterated a “buy” rating on shares of Acuity Brands in a report on Wednesday, November 24th. Credit Suisse Group increased their price objective on shares of Acuity Brands from $225.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating and set a $211.00 price objective on the stock. in a report on Wednesday, December 8th. Finally, Wells Fargo & Company started coverage on shares of Acuity Brands in a report on Thursday, October 7th. They set an “overweight” rating and a $218.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Acuity Brands has a consensus rating of “Buy” and a consensus target price of $201.77.

In related news, SVP Barry R. Goldman sold 962 shares of the firm’s stock in a transaction on Friday, November 12th. The stock was sold at an average price of $221.61, for a total transaction of $213,188.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Acuity Brands stock. Morgan Stanley increased its position in shares of Acuity Brands, Inc. (NYSE:AYI) by 19.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.32% of Acuity Brands worth $21,474,000 at the end of the most recent reporting period. 96.65% of the stock is currently owned by institutional investors and hedge funds.

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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