Acuity Brands, Inc. (NYSE:AYI) declared a quarterly dividend on Friday, June 28th, RTT News reports. Shareholders of record on Wednesday, July 17th will be paid a dividend of 0.13 per share by the electronics maker on Thursday, August 1st. This represents a $0.52 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Tuesday, July 16th.
Acuity Brands has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Acuity Brands to earn $9.70 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 5.4%.
Shares of NYSE AYI opened at $130.64 on Friday. The stock’s 50 day simple moving average is $132.66. The firm has a market capitalization of $5.21 billion, a P/E ratio of 14.68, a PEG ratio of 1.37 and a beta of 1.67. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. Acuity Brands has a twelve month low of $103.48 and a twelve month high of $173.01.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Tuesday, July 2nd. The electronics maker reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.16. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. The firm had revenue of $947.60 million for the quarter, compared to the consensus estimate of $969.48 million. During the same quarter in the previous year, the business earned $2.37 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that Acuity Brands will post 9.09 EPS for the current fiscal year.
Several equities analysts have recently commented on AYI shares. Goldman Sachs Group raised Acuity Brands from a “sell” rating to a “neutral” rating and set a $121.00 target price on the stock in a research report on Wednesday, March 20th. Roth Capital set a $7.00 target price on Arcimoto and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Wells Fargo & Co reaffirmed a “buy” rating and issued a $36.00 target price on shares of Brookfield Renewable Partners in a research report on Thursday, April 4th. CIBC raised Mullen Group from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $149.90.
In related news, Director Ray M. Robinson sold 2,363 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total transaction of $307,544.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.70% of the company’s stock.
Acuity Brands Company Profile
Acuity Brands, Inc provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure, and residential applications in North America and internationally. The company offers lighting and control products and solutions, including recessed, surface, and suspended lighting; down, decorative, emergency and exit, track, day, special-use, street and roadway, parking garage, underwater, area pedestrian, flood, decorative site, and landscape lighting; occupancy sensors; photo controls; relay panels; architectural dimming panels; and integrated lighting controls systems.
Read More: Analyst Ratings Trading
Receive News & Ratings for Acuity Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acuity Brands and related companies with MarketBeat.com's FREE daily email newsletter.