Acuity Brands (NYSE:AYI) Releases Earnings Results, Beats Expectations By $0.40 EPS

Acuity Brands (NYSE:AYI) issued its earnings results on Tuesday. The electronics maker reported $4.30 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.02 billion. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. Acuity Brands’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $3.74 EPS. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Trading Down 1.6 %

Shares of Acuity Brands stock opened at $295.45 on Thursday. Acuity Brands has a 52-week low of $156.84 and a 52-week high of $303.04. The stock has a market cap of $9.09 billion, a PE ratio of 24.41, a PEG ratio of 1.77 and a beta of 1.41. The firm has a 50-day moving average of $250.76 and a 200-day moving average of $253.78. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.77.

Acuity Brands Dividend Announcement

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

Analysts Set New Price Targets

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

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.