Acuity Brands (NYSE:AYI) Releases FY24 Earnings Guidance

Acuity Brands (NYSE:AYIGet Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $14.75-$15.50 for the period, compared to the consensus estimate of $14.69.

Acuity Brands Trading Down 1.3 %

Shares of NYSE AYI opened at $261.81 on Wednesday. The firm’s 50 day moving average price is $250.34 and its 200-day moving average price is $208.90. The company has a market cap of $8.07 billion, a PE ratio of 22.40, a P/E/G ratio of 1.93 and a beta of 1.49. Acuity Brands has a 52-week low of $149.30 and a 52-week high of $270.95. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.85 and a current ratio of 2.45.

Acuity Brands (NYSE:AYIGet Free Report) last issued its earnings results on Tuesday, January 9th. The electronics maker reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.49. The firm had revenue of $934.70 million for the quarter, compared to the consensus estimate of $935.14 million. Acuity Brands had a net margin of 9.56% and a return on equity of 21.43%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.04 earnings per share. On average, equities research analysts expect that Acuity Brands will post 13.71 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 17th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. Acuity Brands’s dividend payout ratio is presently 5.13%.

Analyst Ratings Changes

AYI has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Acuity Brands from $200.00 to $236.00 and gave the company an overweight rating in a report on Tuesday, December 19th. StockNews.com raised shares of Acuity Brands from a buy rating to a strong-buy rating in a report on Tuesday, March 26th. Finally, Robert W. Baird boosted their price objective on shares of Acuity Brands from $236.00 to $286.00 and gave the company a neutral rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $215.00.

Check Out Our Latest Stock Analysis on AYI

Insider Activity at Acuity Brands

In related news, SVP Barry R. Goldman sold 1,900 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $226.01, for a total value of $429,419.00. Following the transaction, the senior vice president now directly owns 8,611 shares of the company’s stock, valued at approximately $1,946,172.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Acuity Brands news, SVP Dianne S. Mills sold 6,000 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $225.11, for a total transaction of $1,350,660.00. Following the sale, the senior vice president now directly owns 8,554 shares of the company’s stock, valued at approximately $1,925,590.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Barry R. Goldman sold 1,900 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $226.01, for a total value of $429,419.00. Following the sale, the senior vice president now directly owns 8,611 shares in the company, valued at $1,946,172.11. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Acuity Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AYI. Raymond James & Associates grew its position in Acuity Brands by 6.2% during the 1st quarter. Raymond James & Associates now owns 20,688 shares of the electronics maker’s stock worth $3,916,000 after purchasing an additional 1,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Acuity Brands by 3.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,834 shares of the electronics maker’s stock worth $2,429,000 after acquiring an additional 379 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Acuity Brands by 0.9% during the 1st quarter. BlackRock Inc. now owns 2,982,396 shares of the electronics maker’s stock worth $564,568,000 after acquiring an additional 25,598 shares in the last quarter. APG Asset Management N.V. purchased a new stake in shares of Acuity Brands during the 1st quarter worth about $1,395,000. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Acuity Brands by 9.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,747 shares of the electronics maker’s stock worth $3,850,000 after acquiring an additional 1,647 shares in the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.

Acuity Brands Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Acuity Brands (NYSE:AYI)

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