Acuity Brands, Inc. (NYSE:AYI) announced a quarterly dividend on Friday, March 29th, RTT News reports. Stockholders of record on Wednesday, April 17th will be paid a dividend of 0.13 per share by the electronics maker on Wednesday, May 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, April 16th.
Acuity Brands has a payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Acuity Brands to earn $9.49 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 5.5%.
NYSE:AYI traded up $1.21 during trading hours on Friday, hitting $142.44. 326,459 shares of the stock traded hands, compared to its average volume of 501,352. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.11 and a quick ratio of 1.40. Acuity Brands has a 1 year low of $103.48 and a 1 year high of $173.01. The company has a market capitalization of $5.68 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.61 and a beta of 1.54.
Several research firms have recently commented on AYI. Zacks Investment Research downgraded shares of Acuity Brands from a “hold” rating to a “sell” rating in a report on Monday, April 1st. ValuEngine raised shares of Acuity Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. JMP Securities upped their price target on shares of Acuity Brands from $176.00 to $184.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Robert W. Baird upped their price target on shares of Acuity Brands from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $155.00 price target (up previously from $146.00) on shares of Acuity Brands in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $151.33.
Acuity Brands Company Profile
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.
Recommended Story: Put Option Volume
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.