Todays Report: The Roth Capital lowers the estimated FY2017 for Acuity Brands Inc. (AYI)

The Roth Capital lowers the estimated FY2017 for Acuity Brands Inc. (AYI)

Acuity Brands Inc. (NYSE:AYI) – Analysts at Roth Capital lowered their FY2017 EPS estimates for Acuity Brands in a note issued to investors on Wednesday. Roth Capital analyst C. Irwin now anticipates that the brokerage will earn $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.

Other analysts have also issued reports about the company. Canaccord Genuity restated a “buy” rating and issued a $286.00 price target (down from $305.00) on shares of Acuity Brands in a report on Friday, September 30th. Williams Capital started coverage on Acuity Brands in a research report on Friday, September 30th. They issued a “buy” rating and a $306.00 target price on the stock. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $295.00 target price on shares of Acuity Brands in a research report on Thursday, June 30th. Zacks Investment Research raised Acuity Brands from a “hold” rating to a “buy” rating and set a $285.00 target price on the stock in a research report on Friday, June 24th. Finally, Cowen and Company set a $285.00 target price on Acuity Brands and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Acuity Brands currently has an average rating of “Buy” and a consensus target price of $275.36.

Shares of Acuity Brands (NYSE:AYI) opened at 240.74 on Monday. Acuity Brands has a 52 week low of $169.42 and a 52 week high of $280.89. The company’s 50-day moving average price is $264.61 and its 200 day moving average price is $255.63. The company has a market cap of $10.52 billion, a P/E ratio of 36.31 and a beta of 1.46.

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

Several institutional investors have recently bought and sold shares of AYI. Meeder Asset Management Inc. bought a new stake in shares of Acuity Brands during the second quarter valued at about $153,000. Mizuho Asset Management Co. Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at about $163,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Acuity Brands during the second quarter valued at about $174,000. Point72 Asia Hong Kong Ltd boosted its stake in shares of Acuity Brands by 250.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 700 shares of the company’s stock valued at $174,000 after buying an additional 500 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Acuity Brands by 9.2% in the second quarter. Pacer Advisors Inc. now owns 771 shares of the company’s stock valued at $191,000 after buying an additional 65 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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

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