Analysts Anticipate Acuity Brands, Inc. (NYSE:AYI) Will Announce Quarterly Sales of $891.50 Million

Wall Street analysts expect Acuity Brands, Inc. (NYSE:AYI) to report $891.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Acuity Brands’ earnings, with estimates ranging from $891.00 million to $892.00 million. Acuity Brands posted sales of $792.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The firm is scheduled to report its next quarterly earnings results on Thursday, January 6th.

On average, analysts expect that Acuity Brands will report full-year sales of $3.76 billion for the current fiscal year, with estimates ranging from $3.75 billion to $3.76 billion. For the next year, analysts expect that the company will report sales of $4.00 billion, with estimates ranging from $3.95 billion to $4.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Acuity Brands.

Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Tuesday, October 5th. The electronics maker reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.42. Acuity Brands had a return on equity of 17.44% and a net margin of 8.85%. The company had revenue of $992.70 million during the quarter, compared to analyst estimates of $958.25 million. During the same period in the previous year, the business earned $2.24 EPS. Acuity Brands’s quarterly revenue was up 11.4% on a year-over-year basis.

Several research firms have commented on AYI. Robert W. Baird reiterated a “buy” rating on shares of Acuity Brands in a research note on Wednesday. Credit Suisse Group cut their price objective on Acuity Brands from $212.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, October 4th. Oppenheimer boosted their price objective on Acuity Brands from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, October 7th. Cowen boosted their price objective on Acuity Brands from $184.00 to $223.00 and gave the stock an “outperform” rating in a research note on Thursday, October 7th. Finally, UBS Group upgraded Acuity Brands from a “sell” rating to a “neutral” rating and upped their price target for the company from $163.00 to $206.00 in a research report on Tuesday, October 12th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $196.67.

NYSE:AYI traded down $0.55 during trading hours on Friday, hitting $214.93. 264,816 shares of the stock were exchanged, compared to its average volume of 401,674. Acuity Brands has a 52-week low of $112.10 and a 52-week high of $224.59. The firm’s fifty day moving average price is $200.82 and its 200 day moving average price is $186.84. The company has a current ratio of 2.23, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The company has a market cap of $7.51 billion, a P/E ratio of 25.59, a P/E/G ratio of 2.06 and a beta of 1.63.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 15th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Thursday, October 14th. Acuity Brands’s dividend payout ratio is presently 6.19%.

In related news, SVP Barry R. Goldman sold 962 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $221.61, for a total value of $213,188.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Twin Lakes Capital Management LLC acquired a new position in Acuity Brands during the first quarter worth $26,000. Edmond DE Rothschild Holding S.A. acquired a new position in Acuity Brands during the third quarter worth $28,000. Canada Pension Plan Investment Board raised its stake in shares of Acuity Brands by 1,550.0% in the second quarter. Canada Pension Plan Investment Board now owns 165 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 155 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Acuity Brands by 51.3% in the third quarter. Parallel Advisors LLC now owns 180 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 61 shares in the last quarter. Finally, JJJ Advisors Inc. raised its stake in shares of Acuity Brands by 46.2% in the third quarter. JJJ Advisors Inc. now owns 272 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.

About Acuity Brands

Acuity Brands, Inc engages in the provision of lighting and building management solutions and services. The firm caters commercial, institutional, industrial, infrastructure and residential applications for various markets. It offers luminaires, lighting controls, controllers for various building systems, power supplies, prismatic skylights, and drivers as well as integrated systems for various indoor and outdoor applications.

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