Brokerages expect Acuity Brands, Inc. (NYSE:AYI) to post $814.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Acuity Brands' earnings, with the highest sales estimate coming in at $870.00 million and the lowest estimate coming in at $787.50 million. Acuity Brands posted sales of $938.10 million during the same quarter last year, which suggests a negative year-over-year growth rate of 13.2%. The company is scheduled to report its next earnings report before the market opens on Thursday, October 8th.
On average, analysts expect that Acuity Brands will report full-year sales of $3.25 billion for the current year, with estimates ranging from $3.22 billion to $3.31 billion. For the next year, analysts expect that the business will report sales of $3.27 billion, with estimates ranging from $3.05 billion to $3.38 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Acuity Brands.
Acuity Brands (NYSE:AYI) last issued its quarterly earnings data on Tuesday, June 30th. The electronics maker reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.72. Acuity Brands had a return on equity of 15.57% and a net margin of 8.02%. The company had revenue of $776.20 million for the quarter, compared to the consensus estimate of $746.61 million. During the same quarter last year, the company earned $2.53 earnings per share. The firm's revenue for the quarter was down 18.1% compared to the same quarter last year.
AYI has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Acuity Brands from a "buy" rating to a "hold" rating and set a $94.00 target price on the stock. in a research note on Tuesday, June 23rd. Goldman Sachs Group downgraded shares of Acuity Brands from a "neutral" rating to a "sell" rating and set a $80.00 price target on the stock. in a research note on Monday, June 15th. UBS Group initiated coverage on shares of Acuity Brands in a research report on Tuesday, September 15th. They set a "sell" rating and a $91.00 price objective on the stock. ValuEngine downgraded shares of Acuity Brands from a "hold" rating to a "sell" rating in a research report on Monday, September 21st. Finally, JMP Securities downgraded shares of Acuity Brands from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Acuity Brands currently has an average rating of "Hold" and a consensus target price of $98.30.
Several hedge funds have recently made changes to their positions in AYI. Fifth Third Bancorp boosted its stake in Acuity Brands by 33.3% during the second quarter. Fifth Third Bancorp now owns 400 shares of the electronics maker's stock worth $38,000 after buying an additional 100 shares during the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Acuity Brands during the second quarter worth $43,000. Allworth Financial LP acquired a new position in Acuity Brands during the second quarter worth $66,000. XTX Markets LLC acquired a new position in Acuity Brands during the second quarter worth $211,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Acuity Brands during the second quarter worth $213,000. Hedge funds and other institutional investors own 93.32% of the company's stock.
AYI opened at $97.22 on Friday. Acuity Brands has a one year low of $67.46 and a one year high of $143.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.40 and a quick ratio of 1.78. The company's 50 day simple moving average is $107.10 and its 200-day simple moving average is $94.14. The stock has a market capitalization of $3.85 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.44 and a beta of 1.43.
About Acuity Brands
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
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