Q1 2017 EPS Estimates for Acuity Brands Inc. Decreased by Analyst (AYI)
Acuity Brands Inc. (NYSE:AYI) – Stock analysts at Roth Capital dropped their Q1 2017 earnings per share (EPS) estimates for Acuity Brands in a research report issued on Wednesday. Roth Capital analyst C. Irwin now expects that the firm will post earnings of $1.95 per share for the quarter, down from their previous estimate of $2.13. Roth Capital currently has a “Hold” rating and a $275.00 target price on the stock. Roth Capital also issued estimates for Acuity Brands’ Q2 2017 earnings at $1.85 EPS, Q3 2017 earnings at $2.20 EPS and Q4 2017 earnings at $2.35 EPS.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The company earned $925.50 million during the quarter. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis.
A number of other brokerages also recently issued reports on AYI. Zacks Investment Research downgraded shares of Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. William Blair reiterated an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $295.00 price objective on shares of Acuity Brands in a research note on Friday, September 16th. DA Davidson reiterated a “hold” rating and set a $255.00 price objective on shares of Acuity Brands in a research note on Tuesday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $305.00 price objective on shares of Acuity Brands in a research note on Friday, September 23rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $277.20.
Shares of Acuity Brands (NYSE:AYI) traded down 0.86% during trading on Friday, hitting $241.87. 290,482 shares of the company’s stock were exchanged. The stock has a market cap of $10.52 billion, a PE ratio of 39.51 and a beta of 1.46. The stock’s 50-day moving average price is $265.67 and its 200-day moving average price is $255.49. Acuity Brands has a 1-year low of $169.42 and a 1-year high of $280.89.
A number of hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new stake in shares of Acuity Brands during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Acuity Brands during the second quarter valued at about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Acuity Brands during the second quarter valued at about $174,000. Point72 Asia Hong Kong Ltd increased its stake in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares during the period. 93.26% of the stock is currently owned by institutional investors.
In related news, CFO Richard K. Reece sold 33,430 shares of Acuity Brands stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $269.07, for a total transaction of $8,995,010.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Vernon J. Nagel sold 65,060 shares of Acuity Brands stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $268.30, for a total value of $17,455,598.00. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.21%. The ex-dividend date is Friday, October 14th. Acuity Brands’s dividend payout ratio (DPR) is presently 7.83%.
About Acuity Brands
Acuity Brands, Inc (Acuity Brands), is the parent company of Acuity Brands Lighting, Inc (ABL), and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets.
Receive News & Stock Ratings for Acuity Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands Inc. and related stocks with our FREE daily email newsletter.