Acuity Brands (NYSE:AYI) Updates FY 2024 Earnings Guidance

Acuity Brands (NYSE:AYI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 14.750-15.500 for the period, compared to the consensus earnings per share estimate of 15.430. The company issued revenue guidance of $3.7 billion-$4.0 billion, compared to the consensus revenue estimate of $3.9 billion.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Acuity Brands from $227.00 to $261.00 and gave the company a neutral rating in a report on Thursday, April 4th. Robert W. Baird cut their target price on Acuity Brands from $286.00 to $280.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. Oppenheimer boosted their price target on Acuity Brands from $250.00 to $315.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. StockNews.com cut Acuity Brands from a strong-buy rating to a buy rating in a research report on Wednesday. Finally, Wells Fargo & Company downgraded Acuity Brands from an overweight rating to an equal weight rating and reduced their price objective for the stock from $295.00 to $260.00 in a report on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $279.00.

Acuity Brands Price Performance

Shares of AYI opened at $241.44 on Friday. The firm has a fifty day simple moving average of $254.46 and a two-hundred day simple moving average of $244.53. The firm has a market cap of $7.44 billion, a PE ratio of 19.63, a P/E/G ratio of 1.70 and a beta of 1.44. The company has a current ratio of 2.77, a quick ratio of 1.96 and a debt-to-equity ratio of 0.22. Acuity Brands has a 1-year low of $154.72 and a 1-year high of $272.74.

Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Wednesday, April 3rd. The electronics maker reported $3.08 EPS for the quarter, topping the consensus estimate of $2.85 by $0.23. Acuity Brands had a return on equity of 20.97% and a net margin of 10.12%. The company had revenue of $905.90 million during the quarter, compared to analyst estimates of $897.01 million. On average, equities analysts anticipate that Acuity Brands will post 14.16 EPS for the current year.

Acuity Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, July 18th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, July 18th. Acuity Brands’s payout ratio is currently 4.88%.

Insider Buying and Selling

In other Acuity Brands news, Director Maya Leibman bought 200 shares of Acuity Brands stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $248.91 per share, with a total value of $49,782.00. Following the completion of the acquisition, the director now owns 200 shares in the company, valued at $49,782. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Karen J. Holcom sold 7,745 shares of Acuity Brands stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $262.24, for a total transaction of $2,031,048.80. Following the transaction, the chief financial officer now directly owns 20,287 shares of the company’s stock, valued at approximately $5,320,062.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maya Leibman bought 200 shares of Acuity Brands stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $248.91 per share, with a total value of $49,782.00. Following the completion of the acquisition, the director now directly owns 200 shares in the company, valued at approximately $49,782. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

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.