Acuity Brands, Inc. (AYI) Expected to Announce Quarterly Sales of $969.62 Million

Wall Street brokerages expect Acuity Brands, Inc. (NYSE:AYI) to post $969.62 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Acuity Brands’ earnings, with the lowest sales estimate coming in at $945.10 million and the highest estimate coming in at $992.00 million. Acuity Brands reported sales of $944.00 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The firm is expected to report its next earnings results on Tuesday, July 2nd.

According to Zacks, analysts expect that Acuity Brands will report full year sales of $3.84 billion for the current fiscal year, with estimates ranging from $3.77 billion to $3.90 billion. For the next year, analysts expect that the company will post sales of $4.01 billion, with estimates ranging from $3.94 billion to $4.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Acuity Brands.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings results on Wednesday, April 3rd. The electronics maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.78 by $0.21. The business had revenue of $854.40 million during the quarter, compared to analysts’ expectations of $877.82 million. Acuity Brands had a net margin of 8.63% and a return on equity of 20.46%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share.

Several analysts recently commented on AYI shares. Zacks Investment Research upgraded shares of Acuity Brands from a “hold” rating to a “buy” rating and set a $161.00 price target for the company in a report on Tuesday, April 23rd. Wells Fargo & Co restated a “buy” rating and set a $155.00 price target (up from $146.00) on shares of Acuity Brands in a report on Thursday, April 4th. ValuEngine upgraded shares of Acuity Brands from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. JMP Securities raised their price target on shares of Acuity Brands from $176.00 to $184.00 and gave the stock a “market outperform” rating in a report on Thursday, April 4th. Finally, Goldman Sachs Group raised shares of Acuity Brands from a “sell” rating to a “neutral” rating and set a $121.00 price objective on the stock in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $151.67.

A number of institutional investors and hedge funds have recently modified their holdings of AYI. BlackRock Inc. raised its position in shares of Acuity Brands by 1.6% in the first quarter. BlackRock Inc. now owns 4,223,948 shares of the electronics maker’s stock valued at $506,914,000 after purchasing an additional 66,251 shares during the period. JPMorgan Chase & Co. raised its position in shares of Acuity Brands by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 1,503,901 shares of the electronics maker’s stock valued at $236,413,000 after purchasing an additional 194,259 shares during the period. FIL Ltd raised its position in shares of Acuity Brands by 2.5% in the first quarter. FIL Ltd now owns 624,895 shares of the electronics maker’s stock valued at $74,993,000 after purchasing an additional 15,431 shares during the period. Seizert Capital Partners LLC raised its position in shares of Acuity Brands by 20.8% in the fourth quarter. Seizert Capital Partners LLC now owns 548,460 shares of the electronics maker’s stock valued at $63,045,000 after purchasing an additional 94,303 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Acuity Brands by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 493,854 shares of the electronics maker’s stock valued at $56,738,000 after purchasing an additional 20,542 shares during the period. 93.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AYI stock traded up $1.94 during trading on Monday, hitting $138.68. 10,875 shares of the company were exchanged, compared to its average volume of 398,205. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.40 and a current ratio of 2.11. The stock has a market cap of $5.46 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.56 and a beta of 1.62. Acuity Brands has a twelve month low of $103.48 and a twelve month high of $173.01.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Tuesday, April 16th. Acuity Brands’s payout ratio is presently 6.33%.

About Acuity Brands

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.

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