Acuity Brands, Inc. (NYSE:AYI) – Research analysts at William Blair cut their Q3 2020 earnings per share estimates for Acuity Brands in a research report issued to clients and investors on Thursday, June 25th. William Blair analyst R. Merkel now expects that the electronics maker will earn $1.06 per share for the quarter, down from their prior forecast of $1.15. William Blair also issued estimates for Acuity Brands’ FY2020 earnings at $6.18 EPS.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Tuesday, June 30th. The electronics maker reported $1.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.64. Acuity Brands had a net margin of 8.43% and a return on equity of 17.18%. The business had revenue of $776.20 million during the quarter, compared to analyst estimates of $746.61 million. During the same period in the previous year, the business posted $2.53 EPS. The company’s quarterly revenue was down 18.1% on a year-over-year basis.
Several other research firms have also commented on AYI. Credit Suisse Group decreased their price target on shares of Acuity Brands from $111.00 to $109.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. JMP Securities lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 9th. Oppenheimer raised shares of Acuity Brands from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a report on Sunday, June 7th. ValuEngine raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a report on Wednesday, March 11th. Finally, Robert W. Baird boosted their target price on shares of Acuity Brands from $80.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $101.56.
NYSE AYI opened at $89.33 on Monday. Acuity Brands has a one year low of $67.46 and a one year high of $143.55. The company has a 50-day simple moving average of $90.07 and a 200-day simple moving average of $103.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.68 and a current ratio of 2.29. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.33 and a beta of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 17th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, July 16th. Acuity Brands’s payout ratio is 5.78%.
A number of institutional investors have recently bought and sold shares of the business. Atlanta Capital Management Co. L L C grew its position in Acuity Brands by 1.6% during the first quarter. Atlanta Capital Management Co. L L C now owns 1,619,274 shares of the electronics maker’s stock valued at $138,707,000 after purchasing an additional 26,085 shares in the last quarter. JPMorgan Chase & Co. grew its position in Acuity Brands by 7.3% during the first quarter. JPMorgan Chase & Co. now owns 1,616,964 shares of the electronics maker’s stock valued at $138,510,000 after purchasing an additional 110,089 shares in the last quarter. State Street Corp grew its position in Acuity Brands by 2.0% during the first quarter. State Street Corp now owns 1,398,364 shares of the electronics maker’s stock valued at $119,784,000 after purchasing an additional 27,491 shares in the last quarter. Renaissance Technologies LLC grew its position in Acuity Brands by 12.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,023,116 shares of the electronics maker’s stock valued at $141,190,000 after purchasing an additional 114,116 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Acuity Brands by 121.3% during the fourth quarter. AQR Capital Management LLC now owns 972,906 shares of the electronics maker’s stock valued at $134,261,000 after purchasing an additional 533,321 shares in the last quarter. 92.09% of the stock is owned by hedge funds and other institutional investors.
About Acuity Brands
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
See Also: Ex-Dividend
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