Acuity Brands, Inc. (NYSE:AYI) announced a quarterly dividend on Thursday, June 25th, Zacks reports. Shareholders of record on Friday, July 17th will be paid a dividend of 0.13 per share by the electronics maker on Monday, August 3rd. This represents a $0.52 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, July 16th.
Acuity Brands has a dividend payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Acuity Brands to earn $6.86 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 7.6%.
Shares of AYI opened at $88.40 on Tuesday. The business’s 50-day moving average is $92.91 and its two-hundred day moving average is $100.25. The company has a market capitalization of $3.54 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.78 and a current ratio of 2.40. Acuity Brands has a fifty-two week low of $67.46 and a fifty-two week high of $143.55.
Acuity Brands (NYSE:AYI) last announced its quarterly earnings results on Tuesday, June 30th. The electronics maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.72. The company had revenue of $776.20 million for the quarter, compared to the consensus estimate of $746.61 million. Acuity Brands had a return on equity of 15.57% and a net margin of 8.02%. The firm’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same period last year, the firm earned $2.53 EPS. Analysts forecast that Acuity Brands will post 6.33 EPS for the current year.
Several research firms have recently issued reports on AYI. Zacks Investment Research lowered shares of Acuity Brands from a “buy” rating to a “hold” rating and set a $94.00 target price on the stock. in a research note on Tuesday, June 23rd. JMP Securities lowered shares of Acuity Brands from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 9th. Roth Capital decreased their price target on shares of Acuity Brands from $100.00 to $50.00 in a research note on Monday, March 16th. Robert W. Baird raised their target price on shares of Acuity Brands from $80.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Oppenheimer upgraded shares of Acuity Brands from a “market perform” rating to an “outperform” rating and set a $135.00 target price for the company in a report on Sunday, June 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Acuity Brands has a consensus rating of “Hold” and a consensus target price of $99.11.
About Acuity Brands
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.
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