Somewhat Favorable News Coverage Somewhat Unlikely to Impact Acuity Brands (AYI) Share Price
News stories about Acuity Brands (NYSE:AYI) have trended somewhat positive recently, Accern Sentiment reports. The research group rates the sentiment of news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Acuity Brands earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave news articles about the electronics maker an impact score of 48.5218565000297 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
- Acuity Brands Inc (AYI) Receives Consensus Recommendation of “Hold” from Brokerages (americanbankingnews.com)
- William Blair Analysts Reduce Earnings Estimates for Acuity Brands Inc (AYI) (americanbankingnews.com)
- Acuity Brands’ (AYI) CEO Vern Nagel on Q4 2017 Results – Earnings Call Transcript – Seeking Alpha (seekingalpha.com)
- Acuity Brands, Inc.(NYSE: AYI) stock recovers post a weak start (fxdailyreport.com)
- Roth Capital Cuts Acuity Brands Inc (AYI) Price Target to $130.00 (americanbankingnews.com)
Several research analysts recently commented on the company. JMP Securities raised Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price target for the company in a research report on Tuesday. Seaport Global Securities reissued a “buy” rating and set a $200.00 price target (down from $225.00) on shares of Acuity Brands in a research report on Friday. Roth Capital set a $130.00 price target on Acuity Brands and gave the company a “sell” rating in a research report on Thursday. BidaskClub raised Acuity Brands from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $215.00 price target on shares of Acuity Brands in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $198.42.
Shares of Acuity Brands (AYI) opened at 174.20 on Friday. Acuity Brands has a 52-week low of $153.28 and a 52-week high of $261.43. The stock has a 50 day moving average price of $173.33 and a 200-day moving average price of $182.57. The firm has a market capitalization of $7.51 billion, a PE ratio of 24.30 and a beta of 1.43.
Acuity Brands (NYSE:AYI) last announced its earnings results on Wednesday, October 4th. The electronics maker reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.25. Acuity Brands had a return on equity of 20.47% and a net margin of 9.18%. The firm had revenue of $957.60 million for the quarter, compared to the consensus estimate of $975.05 million. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Acuity Brands will post $9.15 EPS for the current year.
Acuity Brands declared that its Board of Directors has authorized a share repurchase program on Thursday, June 29th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, October 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.30%. Acuity Brands’s payout ratio is presently 6.99%.
In other news, EVP Mark A. Black sold 5,427 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $205.29, for a total value of $1,114,108.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.
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About Acuity Brands
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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