Acuity Brands, Inc. Expected to Earn FY2024 Earnings of $14.36 Per Share (NYSE:AYI)

Acuity Brands, Inc. (NYSE:AYI) – Equities research analysts at William Blair lifted their FY2024 earnings per share estimates for shares of Acuity Brands in a report released on Wednesday, September 25th. William Blair analyst R. Merkel now anticipates that the electronics maker will earn $14.36 per share for the year, up from their prior forecast of $14.14. The consensus estimate for Acuity Brands’ current full-year earnings is $14.26 per share. William Blair also issued estimates for Acuity Brands’ Q4 2024 earnings at $3.95 EPS.

AYI has been the subject of a number of other research reports. Robert W. Baird reduced their price target on Acuity Brands from $286.00 to $280.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Wells Fargo & Company boosted their price target on Acuity Brands from $260.00 to $289.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 24th. Finally, StockNews.com lowered Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $286.25.

Acuity Brands Trading Up 2.0 %

Shares of AYI stock opened at $275.42 on Monday. 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 has a 1 year low of $156.84 and a 1 year high of $275.95. The stock has a fifty day moving average of $248.84 and a two-hundred day moving average of $253.17. The firm has a market capitalization of $8.47 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.41.

Acuity Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, October 18th. Acuity Brands’s dividend payout ratio is 4.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its position in Acuity Brands by 366.2% in the 2nd quarter. Acadian Asset Management LLC now owns 345,628 shares of the electronics maker’s stock worth $83,430,000 after purchasing an additional 271,485 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in Acuity Brands by 187.8% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 330,331 shares of the electronics maker’s stock worth $79,755,000 after purchasing an additional 215,547 shares during the last quarter. Millennium Management LLC increased its position in Acuity Brands by 353.1% in the 2nd quarter. Millennium Management LLC now owns 173,683 shares of the electronics maker’s stock worth $41,934,000 after purchasing an additional 135,350 shares during the last quarter. Pacer Advisors Inc. increased its position in Acuity Brands by 35.7% in the 2nd quarter. Pacer Advisors Inc. now owns 407,164 shares of the electronics maker’s stock worth $98,306,000 after purchasing an additional 107,171 shares during the last quarter. Finally, Vision One Management Partners LP acquired a new position in Acuity Brands in the 4th quarter worth about $21,901,000. 98.21% of the stock is owned by institutional investors and hedge funds.

About Acuity Brands

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.