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

Acuity Brands (NYSE:AYI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 14.750-15.500 for the period, compared to the consensus earnings per share 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.

Acuity Brands Stock Down 0.4 %

AYI opened at $241.44 on Monday. The firm has a market cap of $7.44 billion, a P/E ratio of 19.63, a PEG ratio of 1.70 and a beta of 1.44. The business’s fifty day simple moving average is $254.46 and its 200 day simple moving average is $244.88. Acuity Brands has a 52 week low of $154.72 and a 52 week high of $272.74. The company has a quick ratio of 1.96, a current ratio of 2.77 and a debt-to-equity ratio of 0.22.

Acuity Brands (NYSE:AYI) last announced its earnings results on Thursday, June 27th. The electronics maker reported $4.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.82 by $0.33. The firm had revenue of $968.10 million for the quarter, compared to analyst estimates of $996.52 million. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. Acuity Brands’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.50 earnings per share. As a group, equities research analysts anticipate that Acuity Brands will post 14.16 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, July 18th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, July 18th. Acuity Brands’s dividend payout ratio (DPR) is presently 4.88%.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Maya Leibman purchased 200 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were purchased at an average price of $248.91 per share, with a total value of $49,782.00. Following the purchase, 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 link. In other Acuity Brands news, CFO Karen J. Holcom sold 7,745 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 20,287 shares of the company’s stock, valued at approximately $5,320,062.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maya Leibman purchased 200 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were bought at an average cost of $248.91 per share, with a total value of $49,782.00. Following the transaction, 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. Insiders own 1.50% of the company’s stock.

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.