Acuity Brands (NYSE:AYI) Posts Quarterly Earnings Results, Beats Estimates 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, beating the consensus estimate of $3.90 by $0.40, Briefing.com reports. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.74 EPS. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Trading Down 1.6 %

Acuity Brands stock opened at $295.45 on Thursday. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.77 and a beta of 1.41. The firm has a 50-day moving average of $250.76 and a 200-day moving average of $253.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.77 and a quick ratio of 2.15. Acuity Brands has a one year low of $156.84 and a one year high of $303.04.

Acuity Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.15 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.60 annualized dividend and a yield of 0.20%. Acuity Brands’s payout ratio is currently 4.88%.

Wall Street Analysts Forecast Growth

AYI has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Acuity Brands from $266.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday. Robert W. Baird lifted their price target on shares of Acuity Brands from $280.00 to $318.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com downgraded shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their price objective on shares of Acuity Brands from $289.00 to $305.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Oppenheimer upped their target price on shares of Acuity Brands from $315.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $324.00.

About Acuity Brands

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.