Acuity Brands, Inc. (NYSE:AYI) Announces Quarterly Dividend of $0.15

by · The Markets Daily

Acuity Brands, Inc. (NYSE:AYI – Get Free Report) declared a quarterly dividend on Thursday, September 26th, Wall Street Journal reports. Shareholders of record on Friday, October 18th will be given a dividend of 0.15 per share by the electronics maker on Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.20%. The ex-dividend date is Friday, October 18th.

Acuity Brands has a dividend payout ratio of 3.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Acuity Brands to earn $16.64 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 3.6%.

Acuity Brands Stock Performance

AYI opened at $305.00 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.16 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $264.08 and its 200-day moving average is $256.44. The stock has a market cap of $9.38 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.97 and a beta of 1.41. Acuity Brands has a twelve month low of $156.84 and a twelve month high of $312.20.

Acuity Brands (NYSE:AYI – Get Free Report) last announced its earnings results on Tuesday, October 1st. The electronics maker reported $4.30 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.40. Acuity Brands had a return on equity of 20.49% and a net margin of 11.00%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $3.74 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Acuity Brands will post 15.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

AYI has been the subject of a number of recent analyst reports. Oppenheimer increased their target price on shares of Acuity Brands from $315.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Acuity Brands from $289.00 to $305.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. StockNews.com cut Acuity Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 27th. Robert W. Baird upped their target price on Acuity Brands from $280.00 to $318.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their price target on Acuity Brands from $266.00 to $303.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Acuity Brands presently has an average rating of “Hold” and an average target price of $324.00.

Check Out Our Latest Stock Analysis on AYI

About Acuity Brands

(Get Free Report)

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.

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