In a recent report, analysts at William Blair have revised down their Q3 2024 earnings per share estimates for Acuity Brands, Inc. (NYSE:AYI). The new forecast predicts earnings of $3.87 per share for the quarter, a decrease from the previous estimate of $4.09. The full-year earnings estimate for Acuity Brands stands at $14.16 per share. Looking ahead, William Blair also projects Q4 2024 earnings at $3.73 EPS, FY2024 earnings at $14.14 EPS, Q1 2025 earnings at $3.69 EPS, Q2 2025 earnings at $3.43 EPS, and Q4 2025 earnings at $4.30 EPS.
Analysts' Ratings on AYI
Several other equities analysts have also shared their insights on Acuity Brands. The Goldman Sachs Group raised their price target on the company from $227.00 to $261.00 and assigned a "neutral" rating. Robert W. Baird lowered their price target to $280.00 and maintained a "neutral" rating. StockNews.com downgraded Acuity Brands from a "strong-buy" to a "buy" rating. Additionally, Oppenheimer raised their price target to $315.00 and labeled the stock as "outperform", while Wells Fargo & Company downgraded their rating to "equal weight".
Acuity Brands' Performance
On Friday, shares of NYSE:AYI opened at $241.44. The company's stock has fluctuated between a one-year low of $154.72 and a high of $272.74, with a market capitalization of $7.44 billion. Acuity Brands has a price-to-earnings ratio of 19.63, a PEG ratio of 1.71, and a beta of 1.44.
Quarterly Dividend and Insider Activity
Acuity Brands recently announced a quarterly dividend to be paid on August 1st, with an annualized dividend of $0.60 per share. Moreover, the company's dividend payout ratio is currently at 4.88%. In terms of insider activity, Director Maya Leibman acquired 200 shares of the company's stock and CFO Karen J. Holcom sold 7,745 shares.
Institutional Investors' Perspective
Large institutional investors have shown interest in Acuity Brands, with recent additions to their stakes in the company. In particular, Venturi Wealth Management LLC, New Covenant Trust Company N.A., EdgeRock Capital LLC, Raleigh Capital Management Inc., and Global Retirement Partners LLC have all made moves in the business.
About Acuity Brands
Acuity Brands, Inc. is a leading provider of lighting, lighting controls, and building management systems in the US and globally. Operating under Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG) segments, the company offers a wide range of lighting solutions and components for diverse applications.
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