Trade Report: The FY2017 Earnings Forecast for Acuity Brands Inc. (AYI) Issued By Roth Capital

The FY2017 Earnings Forecast for Acuity Brands Inc. (AYI) Issued By Roth Capital

Acuity Brands Inc. (NYSE:AYI) – Research analysts at Roth Capital decreased their FY2017 EPS estimates for shares of Acuity Brands in a research note issued on Wednesday. Roth Capital analyst C. Irwin now expects that the firm will post earnings of $8.34 per share for the year, down from their prior estimate of $9.09. Roth Capital currently has a “Neutral” rating and a $250.00 price target on the stock.

Acuity Brands (NYSE:AYI) last posted its earnings results on Wednesday, October 5th. The company reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by $0.18. The business had revenue of $925.50 million for the quarter. Acuity Brands had a return on equity of 20.99% and a net margin of 8.84%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share.

A number of other brokerages have also recently weighed in on AYI. Zacks Investment Research cut Acuity Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, August 30th. William Blair reissued an “outperform” rating on shares of Acuity Brands in a research note on Monday, July 25th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $295.00 price target on shares of Acuity Brands in a research note on Friday, September 16th. DA Davidson reissued a “hold” rating and issued a $255.00 price target on shares of Acuity Brands in a research note on Tuesday, October 4th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $305.00 price target on shares of Acuity Brands in a research note on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $275.36.

Acuity Brands (NYSE:AYI) traded up 1.90% during mid-day trading on Monday, reaching $244.65. 437,546 shares of the company were exchanged. The stock’s 50-day moving average is $262.57 and its 200-day moving average is $256.25. The company has a market cap of $10.69 billion, a P/E ratio of 36.90 and a beta of 1.46. Acuity Brands has a 12 month low of $169.42 and a 12 month high of $280.89.

Several large investors have recently made changes to their positions in AYI. Geode Capital Management LLC increased its position in shares of Acuity Brands by 4.5% in the first quarter. Geode Capital Management LLC now owns 262,514 shares of the company’s stock worth $57,231,000 after buying an additional 11,215 shares during the last quarter. Capital Fund Management S.A. increased its position in shares of Acuity Brands by 247.8% in the second quarter. Capital Fund Management S.A. now owns 63,423 shares of the company’s stock worth $15,726,000 after buying an additional 45,185 shares during the last quarter. Legal & General Group Plc increased its position in shares of Acuity Brands by 400.1% in the first quarter. Legal & General Group Plc now owns 172,106 shares of the company’s stock worth $37,543,000 after buying an additional 137,695 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Acuity Brands by 42.3% in the second quarter. Capstone Asset Management Co. now owns 6,172 shares of the company’s stock worth $1,530,000 after buying an additional 1,834 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Acuity Brands by 9.6% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,539 shares of the company’s stock worth $1,621,000 after buying an additional 573 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, October 18th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.22%. Acuity Brands’s dividend payout ratio is 7.83%.

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