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

Acuity Brands (NYSE:AYI) updated its FY 2024 earnings guidance on Friday. 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

AYI has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Acuity Brands from $227.00 to $261.00 and gave the stock a neutral rating in a research note on Thursday, April 4th. Wells Fargo & Company downgraded shares of Acuity Brands from an overweight rating to an equal weight rating and dropped their target price for the stock from $295.00 to $260.00 in a research note on Friday. Robert W. Baird dropped their target price on shares of Acuity Brands from $286.00 to $280.00 and set a neutral rating on the stock in a research note on Tuesday, June 18th. StockNews.com downgraded shares of Acuity Brands from a strong-buy rating to a buy rating in a research note on Wednesday. Finally, Oppenheimer upped their target price on shares of Acuity Brands from $250.00 to $315.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $279.00.

Acuity Brands Price Performance

NYSE AYI opened at $241.57 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.96 and a current ratio of 2.77. The firm’s 50 day moving average price is $254.46 and its 200-day moving average price is $244.16. Acuity Brands has a 52-week low of $154.72 and a 52-week high of $272.74. The company has a market cap of $7.44 billion, a PE ratio of 19.64, a P/E/G ratio of 1.71 and a beta of 1.44.

Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, April 3rd. The electronics maker reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.23. Acuity Brands had a net margin of 10.12% and a return on equity of 20.97%. The company had revenue of $905.90 million during the quarter, compared to analysts’ expectations of $897.01 million. Sell-side analysts forecast that Acuity Brands will post 14.16 EPS for the current fiscal year.

Acuity Brands Dividend Announcement

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

Insider Activity at Acuity Brands

In related news, Director Maya Leibman purchased 200 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average price 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 approximately $49,782. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Maya Leibman purchased 200 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average price 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 approximately $49,782. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Karen J. Holcom sold 7,745 shares of the firm’s stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

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.