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

Acuity Brands (NYSE:AYI) announced its quarterly earnings results on Tuesday. The electronics maker reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.40, Briefing.com reports. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted $3.74 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Stock Up 0.3 %

Shares of NYSE:AYI opened at $300.21 on Thursday. The firm has a 50 day simple moving average of $250.76 and a 200 day simple moving average of $253.78. Acuity Brands has a 52 week low of $156.84 and a 52 week high of $303.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.15 and a current ratio of 2.77. The company has a market cap of $9.24 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.41.

Acuity Brands Announces Dividend

The business 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 annualized dividend 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 4.88%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AYI shares. The Goldman Sachs Group increased their price objective on shares of Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com downgraded shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company raised their target price 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. Robert W. Baird upped their price target on shares of Acuity Brands from $280.00 to $318.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Oppenheimer raised their price objective on shares of Acuity Brands from $315.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.