$1.03 Billion in Sales Expected for Acuity Brands, Inc. (NYSE:AYI) This Quarter

Equities research analysts expect that Acuity Brands, Inc. (NYSE:AYI) will post sales of $1.03 billion for the current quarter, Zacks reports. Six analysts have provided estimates for Acuity Brands’ earnings, with the highest sales estimate coming in at $1.05 billion and the lowest estimate coming in at $1.01 billion. Acuity Brands reported sales of $1.06 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.8%. The firm is expected to report its next quarterly earnings report on Wednesday, October 2nd.

On average, analysts expect that Acuity Brands will report full year sales of $3.77 billion for the current year, with estimates ranging from $3.75 billion to $3.78 billion. For the next fiscal year, analysts expect that the company will report sales of $3.89 billion, with estimates ranging from $3.85 billion to $4.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Acuity Brands.

Acuity Brands (NYSE:AYI) last posted its earnings results on Tuesday, July 2nd. The electronics maker reported $2.53 EPS for the quarter, beating the consensus estimate of $2.37 by $0.16. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. The company had revenue of $947.60 million for the quarter, compared to the consensus estimate of $969.48 million. During the same quarter in the prior year, the business earned $2.37 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis.

AYI has been the topic of a number of analyst reports. CIBC increased their price target on Acuity Brands from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Roth Capital set a $95.00 price target on Acuity Brands and gave the stock a “sell” rating in a research report on Wednesday, July 3rd. Zacks Investment Research downgraded Acuity Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. ValuEngine downgraded Acuity Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Credit Suisse Group reduced their price target on Acuity Brands from $155.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $149.90.

Shares of Acuity Brands stock traded up $2.34 on Tuesday, hitting $123.99. The stock had a trading volume of 236,500 shares, compared to its average volume of 275,247. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. Acuity Brands has a twelve month low of $103.48 and a twelve month high of $173.01. The company has a quick ratio of 1.57, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $131.67 and its two-hundred day moving average is $132.93.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 17th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Tuesday, July 16th. Acuity Brands’s payout ratio is presently 6.33%.

In other Acuity Brands news, Director Ray M. Robinson sold 2,363 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total transaction of $307,544.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Osborn Williams & Donohoe LLC acquired a new stake in Acuity Brands in the first quarter valued at $28,000. BSW Wealth Partners acquired a new stake in Acuity Brands in the second quarter valued at $29,000. Wealthcare Advisory Partners LLC acquired a new stake in Acuity Brands in the second quarter valued at $34,000. Kwmg LLC acquired a new stake in Acuity Brands in the first quarter valued at $44,000. Finally, First Mercantile Trust Co. acquired a new stake in Acuity Brands in the second quarter valued at $58,000. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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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