FY2024 EPS Estimates for Acuity Brands, Inc. Boosted by Analyst (NYSE:AYI)

Acuity Brands, Inc. (NYSE:AYI) – Equities research analysts at William Blair upped their FY2024 EPS estimates for shares of Acuity Brands in a research report issued on Wednesday, September 25th. William Blair analyst R. Merkel now anticipates that the electronics maker will post earnings of $14.36 per share for the year, up from their prior estimate 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.

A number of other research firms also recently commented on AYI. Wells Fargo & Company increased their target price on Acuity Brands from $260.00 to $289.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 24th. Robert W. Baird lowered their price objective on shares of Acuity Brands from $286.00 to $280.00 and set a “neutral” rating for the company in a research report on Tuesday, June 18th. Finally, StockNews.com downgraded shares of Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $286.25.

Acuity Brands Price Performance

Shares of Acuity Brands stock opened at $299.35 on Monday. The firm has a market cap of $9.21 billion, a PE ratio of 24.34, a PEG ratio of 1.77 and a beta of 1.41. The stock has a 50 day moving average of $249.68 and a 200 day moving average of $253.45. The company has a current ratio of 2.77, a quick ratio of 2.15 and a debt-to-equity ratio of 0.22. Acuity Brands has a 12 month low of $156.84 and a 12 month high of $303.04.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AYI. Nordea Investment Management AB grew its holdings in shares of Acuity Brands by 38.1% in the first quarter. Nordea Investment Management AB now owns 51,890 shares of the electronics maker’s stock worth $13,913,000 after purchasing an additional 14,329 shares during the last quarter. Quantedge Capital Pte Ltd bought a new position in Acuity Brands in the fourth quarter worth about $737,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Acuity Brands by 148.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,397 shares of the electronics maker’s stock valued at $1,166,000 after buying an additional 2,627 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Acuity Brands by 8.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 28,846 shares of the electronics maker’s stock worth $6,965,000 after acquiring an additional 2,138 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Acuity Brands by 15.0% during the first quarter. Russell Investments Group Ltd. now owns 42,027 shares of the electronics maker’s stock worth $11,281,000 after purchasing an additional 5,474 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.

Acuity Brands Announces Dividend

The company 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 $0.15 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.20%. Acuity Brands’s dividend payout ratio (DPR) is presently 4.88%.

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.