Acuity Brands (NYSE:AYI) Posts Earnings Results, Beats Estimates By $0.40 EPS

Acuity Brands (NYSE:AYI) posted its quarterly earnings data on Tuesday. The electronics maker reported $4.30 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.40, Briefing.com reports. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.74 EPS. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Price Performance

Shares of Acuity Brands stock opened at $300.21 on Thursday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.77 and a beta of 1.41. The firm’s 50-day moving average price is $250.76 and its two-hundred day moving average price is $253.78. The company has a current ratio of 2.77, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22. Acuity Brands has a 1-year low of $156.84 and a 1-year high of $303.04.

Acuity Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, October 18th. Acuity Brands’s dividend payout ratio is currently 4.88%.

Analyst Ratings Changes

Several research analysts recently commented on AYI shares. Oppenheimer raised their target price on Acuity Brands from $315.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird upped their target price on shares of Acuity Brands from $280.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Acuity Brands from $289.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, StockNews.com downgraded Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Acuity Brands presently has an average rating of “Hold” and a consensus target price of $324.00.

About Acuity Brands

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.