Research Analysts Offer Predictions for Acuity Brands, Inc.’s Q3 2024 Earnings (NYSE:AYI)

Acuity Brands, Inc. (NYSE:AYI) – Equities researchers at Zacks Research raised their Q3 2024 earnings estimates for shares of Acuity Brands in a research note issued to investors on Friday, April 19th. Zacks Research analyst A. Ram now anticipates that the electronics maker will post earnings per share of $3.70 for the quarter, up from their prior estimate of $3.68. The consensus estimate for Acuity Brands’ current full-year earnings is $14.48 per share. Zacks Research also issued estimates for Acuity Brands’ FY2024 earnings at $14.18 EPS, Q1 2025 earnings at $3.56 EPS, Q2 2025 earnings at $3.45 EPS, Q3 2025 earnings at $3.90 EPS, Q4 2025 earnings at $4.20 EPS, Q1 2026 earnings at $3.78 EPS, Q2 2026 earnings at $3.66 EPS and FY2026 earnings at $16.14 EPS.

A number of other research firms have also recently weighed in on AYI. StockNews.com upgraded shares of Acuity Brands from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Oppenheimer lifted 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. Robert W. Baird lifted their target price on shares of Acuity Brands from $236.00 to $286.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Wells Fargo & Company lifted their target price on shares of Acuity Brands from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group lifted 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. Two investment 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $289.25.

Acuity Brands Stock Up 2.2 %

NYSE:AYI opened at $255.19 on Monday. Acuity Brands has a fifty-two week low of $149.30 and a fifty-two week high of $272.74. The stock has a market capitalization of $7.86 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.71 and a beta of 1.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.96 and a current ratio of 2.59. The company’s 50-day simple moving average is $256.37 and its 200-day simple moving average is $218.32.

Hedge Funds Weigh In On Acuity Brands

Institutional investors have recently made changes to their positions in the company. Boston Trust Walden Corp increased its holdings in shares of Acuity Brands by 2.1% during the 4th quarter. Boston Trust Walden Corp now owns 224,289 shares of the electronics maker’s stock valued at $45,941,000 after purchasing an additional 4,694 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Acuity Brands by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,103,793 shares of the electronics maker’s stock valued at $187,987,000 after purchasing an additional 161,818 shares in the last quarter. Pathstone Family Office LLC increased its holdings in shares of Acuity Brands by 12.7% during the 3rd quarter. Pathstone Family Office LLC now owns 6,936 shares of the electronics maker’s stock valued at $1,181,000 after purchasing an additional 784 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Acuity Brands during the 3rd quarter valued at approximately $414,000. Finally, Earnest Partners LLC increased its holdings in Acuity Brands by 6.0% in the 3rd quarter. Earnest Partners LLC now owns 285,055 shares of the electronics maker’s stock worth $48,548,000 after acquiring an additional 16,042 shares in the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Acuity Brands news, CFO Karen J. Holcom sold 7,745 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by insiders.

Acuity Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Tuesday, April 16th. Acuity Brands’s dividend payout ratio is presently 5.02%.

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.