Williams Capital Brokers Lower Earnings Estimates for Acuity Brands Inc. (AYI)
Acuity Brands Inc. (NYSE:AYI) – Investment analysts at Williams Capital dropped their Q1 2017 earnings per share estimates for shares of Acuity Brands in a report issued on Wednesday. Williams Capital analyst C. Motz now forecasts that the firm will post earnings per share of $1.86 for the quarter, down from their previous estimate of $2.02. Williams Capital has a “Buy” rating and a $306.00 price objective on the stock. Williams Capital also issued estimates for Acuity Brands’ Q2 2017 earnings at $2.06 EPS, Q3 2017 earnings at $2.37 EPS and FY2017 earnings at $9.00 EPS.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by $0.18. Acuity Brands had a net margin of 8.84% and a return on equity of 20.99%. The company earned $925.50 million during the quarter. During the same period in the prior year, the company posted $1.63 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year.
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity reiterated a “buy” rating and set a $286.00 price objective (down from $305.00) on shares of Acuity Brands in a research report on Friday, September 30th. Robert W. Baird set a $272.00 price objective on shares of Acuity Brands and gave the stock a “buy” rating in a research report on Thursday, October 6th. Cowen and Company set a $285.00 target price on shares of Acuity Brands and gave the company a “buy” rating in a research note on Thursday, October 6th. Seaport Global Securities initiated coverage on shares of Acuity Brands in a research note on Friday, November 4th. They set a “buy” rating and a $290.00 target price for the company. Finally, DA Davidson reissued a “hold” rating and set a $255.00 target price on shares of Acuity Brands in a research note on Tuesday, October 4th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Acuity Brands currently has a consensus rating of “Buy” and an average price target of $276.58.
Shares of Acuity Brands (NYSE:AYI) opened at 253.56 on Thursday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 38.24 and a beta of 1.34. Acuity Brands has a 52 week low of $169.42 and a 52 week high of $280.89. The stock’s 50 day moving average price is $242.17 and its 200 day moving average price is $254.91.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Tuesday, October 18th were issued a $0.13 dividend. The ex-dividend date was Friday, October 14th. This represents a $0.52 annualized dividend and a yield of 0.21%. Acuity Brands’s dividend payout ratio (DPR) is presently 7.83%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its position in shares of Acuity Brands by 7.8% in the first quarter. UBS Asset Management Americas Inc. now owns 92,185 shares of the company’s stock valued at $20,110,000 after buying an additional 6,635 shares during the period. Loomis Sayles & Co. L P increased its position in Acuity Brands by 0.6% in the first quarter. Loomis Sayles & Co. L P now owns 11,786 shares of the company’s stock valued at $2,571,000 after buying an additional 74 shares during the last quarter. Geode Capital Management LLC increased its position in Acuity Brands by 4.5% in the first quarter. Geode Capital Management LLC now owns 262,514 shares of the company’s stock valued at $57,231,000 after buying an additional 11,215 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Acuity Brands during the first quarter valued at about $3,952,000. Finally, Nuveen Asset Management LLC increased its position in Acuity Brands by 6.2% in the first quarter. Nuveen Asset Management LLC now owns 106,399 shares of the company’s stock valued at $23,210,000 after buying an additional 6,252 shares during the last quarter. Hedge funds and other institutional investors own 93.57% of the company’s stock.
Acuity Brands Company Profile
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.