Acuity Brands, Inc. (NYSE:AYI) declared a quarterly dividend on Monday, January 8th, Wall Street Journal reports. Stockholders of record on Monday, January 22nd will be given a dividend of 0.13 per share by the electronics maker on Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, January 19th.
Acuity Brands has a payout ratio of 6.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Acuity Brands to earn $9.07 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 5.7%.
Acuity Brands (NYSE:AYI) opened at $163.80 on Thursday. Acuity Brands has a 12-month low of $153.28 and a 12-month high of $225.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a market capitalization of $6,770.20, a PE ratio of 22.50, a PEG ratio of 1.62 and a beta of 1.44.
Acuity Brands (NYSE:AYI) last posted its quarterly earnings data on Tuesday, January 9th. The electronics maker reported $1.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($0.16). Acuity Brands had a net margin of 8.91% and a return on equity of 20.08%. sell-side analysts predict that Acuity Brands will post 9 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. JMP Securities raised Acuity Brands from an “underperform” rating to a “market perform” rating and set a $183.00 price objective on the stock in a research report on Tuesday, October 3rd. KeyCorp assumed coverage on Acuity Brands in a research report on Friday, October 13th. They set a “sector weight” rating on the stock. Zacks Investment Research raised Acuity Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Wolfe Research cut Acuity Brands from an “outperform” rating to a “market perform” rating in a report on Monday, October 9th. Finally, Roth Capital set a $130.00 price target on Acuity Brands and gave the stock a “sell” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $196.23.
In related news, EVP Mark A. Black sold 7,441 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $161.32, for a total value of $1,200,382.12. Following the transaction, the executive vice president now directly owns 30,649 shares of the company’s stock, valued at approximately $4,944,296.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.
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Acuity Brands Company Profile
Acuity Brands, Inc is a provider of lighting solutions for commercial, institutional, industrial, infrastructure and residential applications throughout North America and other international markets. The Company operates through North American segment. The Company offers a portfolio of indoor and outdoor lighting and building management solutions for commercial, institutional, industrial, infrastructure and residential applications.
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