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

Acuity Brands (NYSE:AYI) posted 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. The business had revenue of $1.03 billion for 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 for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $3.74 EPS. Acuity Brands updated its FY25 guidance to $16.00-17.50 EPS.

Acuity Brands Price Performance

AYI stock opened at $300.21 on Thursday. The company has a fifty day moving average price of $250.76 and a 200-day moving average price of $253.78. The company has a market capitalization of $9.24 billion, a P/E ratio of 24.41, a PEG ratio of 1.77 and a beta of 1.41. 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.

Acuity Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid 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 payout ratio is currently 4.88%.

Analysts Set New Price Targets

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