Brokers Set Expectations for Acuity Brands, Inc.’s Q3 2024 Earnings (NYSE:AYI)

Acuity Brands, Inc. (NYSE:AYI) – Equities researchers at Zacks Research boosted their Q3 2024 earnings estimates for shares of Acuity Brands in a note issued to investors on Tuesday, April 16th. Zacks Research analyst A. Ram now expects that the electronics maker will post earnings per share of $3.68 for the quarter, up from their previous forecast of $3.43. The consensus estimate for Acuity Brands’ current full-year earnings is $14.26 per share. Zacks Research also issued estimates for Acuity Brands’ Q4 2024 earnings at $3.94 EPS, FY2024 earnings at $14.16 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.44 EPS, Q3 2025 earnings at $3.88 EPS, Q4 2025 earnings at $4.19 EPS, FY2025 earnings at $15.06 EPS, Q1 2026 earnings at $3.77 EPS, Q2 2026 earnings at $3.65 EPS and FY2026 earnings at $16.09 EPS.

A number of other research analysts have also weighed in on AYI. Wells Fargo & Company lifted their price target on shares of Acuity Brands from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. The Goldman Sachs Group lifted their price target on shares of Acuity Brands from $227.00 to $261.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. StockNews.com raised shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Robert W. Baird lifted their price target on shares of Acuity Brands from $236.00 to $286.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. Finally, Oppenheimer lifted their price target on shares of Acuity Brands from $250.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Acuity Brands currently has a consensus rating of “Moderate Buy” and an average target price of $289.25.

Acuity Brands Stock Up 0.1 %

Acuity Brands stock opened at $247.07 on Friday. The company’s 50 day simple moving average is $255.81 and its 200 day simple moving average is $216.69. Acuity Brands has a fifty-two week low of $149.30 and a fifty-two week high of $272.74. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.74 and a beta of 1.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.59 and a quick ratio of 1.96.

Hedge Funds Weigh In On Acuity Brands

Institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its holdings in Acuity Brands by 77.3% during the fourth quarter. Venturi Wealth Management LLC now owns 133 shares of the electronics maker’s stock worth $27,000 after buying an additional 58 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Acuity Brands during the fourth quarter worth $29,000. Raleigh Capital Management Inc. increased its holdings in Acuity Brands by 5,666.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 173 shares of the electronics maker’s stock worth $35,000 after buying an additional 170 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Acuity Brands during the fourth quarter worth $33,000. Finally, Global Retirement Partners LLC increased its holdings in Acuity Brands by 85.7% during the fourth quarter. Global Retirement Partners LLC now owns 221 shares of the electronics maker’s stock worth $50,000 after buying an additional 102 shares during the last quarter. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Karen J. Holcom sold 7,745 shares of Acuity Brands stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $262.24, for a total value of $2,031,048.80. Following the sale, the chief financial officer now directly owns 20,287 shares in the company, valued at $5,320,062.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

Acuity Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. Acuity Brands’s dividend payout ratio (DPR) is presently 5.02%.

Acuity Brands Company Profile

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.