Acuity Brands (NYSE:AYI) Issues FY 2024 Earnings Guidance

Acuity Brands (NYSE:AYI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 14.750-15.500 for the period, compared to the consensus EPS estimate of 15.430. The company issued revenue guidance of $3.7 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Acuity Brands from a strong-buy rating to a buy rating in a report on Wednesday, June 26th. The Goldman Sachs Group lifted their price objective on Acuity Brands from $227.00 to $261.00 and gave the stock a neutral rating in a report on Thursday, April 4th. Robert W. Baird lowered their price objective on Acuity Brands from $286.00 to $280.00 and set a neutral rating on the stock in a research report on Tuesday, June 18th. Oppenheimer raised their target price on Acuity Brands from $250.00 to $315.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company lowered shares of Acuity Brands from an overweight rating to an equal weight rating and lowered their price target for the company from $295.00 to $260.00 in a report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $279.00.

Acuity Brands Stock Down 0.4 %

NYSE AYI opened at $241.44 on Monday. Acuity Brands has a 1-year low of $154.72 and a 1-year high of $272.74. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.70 and a beta of 1.44. The stock’s 50 day moving average is $254.46 and its two-hundred day moving average is $244.88. The company has a current ratio of 2.77, a quick ratio of 1.96 and a debt-to-equity ratio of 0.22.

Acuity Brands (NYSE:AYI) last posted its earnings results on Thursday, June 27th. The electronics maker reported $4.15 EPS for the quarter, topping the consensus estimate of $3.82 by $0.33. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The business had revenue of $968.10 million during the quarter, compared to the consensus estimate of $996.52 million. During the same quarter last year, the company earned $3.50 EPS. Acuity Brands’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Acuity Brands will post 14.16 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th will be paid a $0.15 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. Acuity Brands’s dividend payout ratio is presently 4.88%.

Insider Transactions at Acuity Brands

In other news, Director Maya Leibman purchased 200 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $248.91 per share, with a total value of $49,782.00. Following the acquisition, the director now directly owns 200 shares of the company’s stock, valued at approximately $49,782. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Acuity Brands news, CFO Karen J. Holcom sold 7,745 shares of Acuity Brands stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $262.24, for a total value of $2,031,048.80. Following the completion of the transaction, the chief financial officer now owns 20,287 shares in the company, valued at approximately $5,320,062.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maya Leibman bought 200 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $248.91 per share, for a total transaction of $49,782.00. Following the acquisition, the director now directly owns 200 shares of the company’s stock, valued at approximately $49,782. The disclosure for this purchase can be found here. 1.50% of the stock is owned by insiders.

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.