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

Acuity Brands (NYSE:AYI - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 14.750-15.500 for the period, compared to the consensus earnings per share estimate of 14.910. The company issued revenue guidance of -. Acuity Brands also updated its FY24 guidance to $14.75-$15.50 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AYI. Robert W. Baird boosted their price target on Acuity Brands from $236.00 to $286.00 and gave the stock a neutral rating in a research report on Tuesday, March 26th. StockNews.com upgraded Acuity Brands from a buy rating to a strong-buy rating in a report on Tuesday, March 26th. Finally, Wells Fargo & Company upped their price objective on Acuity Brands from $200.00 to $236.00 and gave the company an overweight rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $215.00.

Acuity Brands Trading Up 1.0 %

Shares of NYSE AYI traded up $2.57 during mid-day trading on Wednesday, hitting $264.40. 584,759 shares of the company traded hands, compared to its average volume of 272,460. Acuity Brands has a 1 year low of $149.30 and a 1 year high of $272.74. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.93 and a beta of 1.49. The company has a quick ratio of 1.85, a current ratio of 2.45 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $251.05 and a two-hundred day moving average of $209.29.

Acuity Brands (NYSE:AYI - Get Free Report) last announced its earnings results on Tuesday, January 9th. The electronics maker reported $3.72 EPS for the quarter, beating the consensus estimate of $3.23 by $0.49. Acuity Brands had a return on equity of 21.43% and a net margin of 9.56%. The business had revenue of $934.70 million during the quarter, compared to the consensus estimate of $935.14 million. During the same period in the prior year, the business posted $3.04 earnings per share. Acuity Brands's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Acuity Brands will post 13.71 earnings per share for the current fiscal year.

Acuity Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Tuesday, April 16th. Acuity Brands's payout ratio is 5.13%.

Insider Activity at Acuity Brands

In related news, SVP Dianne S. Mills sold 6,000 shares of the company's stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $225.11, for a total transaction of $1,350,660.00. Following the transaction, the senior vice president now directly owns 8,554 shares of the company's stock, valued at $1,925,590.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Acuity Brands news, SVP Dianne S. Mills sold 6,000 shares of the company's stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $225.11, for a total value of $1,350,660.00. Following the transaction, the senior vice president now directly owns 8,554 shares of the company's stock, valued at approximately $1,925,590.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Barry R. Goldman sold 1,900 shares of the company's stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $226.01, for a total value of $429,419.00. Following the completion of the transaction, the senior vice president now directly owns 8,611 shares in the company, valued at $1,946,172.11. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Trading of Acuity Brands

Several large investors have recently made changes to their positions in the stock. FIL Ltd boosted its stake in shares of Acuity Brands by 0.6% during the 4th quarter. FIL Ltd now owns 427,012 shares of the electronics maker's stock worth $87,465,000 after acquiring an additional 2,382 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Acuity Brands by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,681 shares of the electronics maker's stock worth $4,646,000 after acquiring an additional 1,163 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Acuity Brands during the 4th quarter worth about $2,160,000. Public Employees Retirement System of Ohio boosted its stake in shares of Acuity Brands by 0.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,375 shares of the electronics maker's stock worth $3,149,000 after acquiring an additional 116 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Acuity Brands by 4.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,068 shares of the electronics maker's stock worth $1,243,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 98.21% of the company's stock.

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.