Acuity Brands, Inc. (AYI), the Atlanta-based lighting and building technology company, is gearing up to release its fourth-quarter earnings results on Tuesday, October 1st, before the market opens. Analysts are optimistic, expecting the company to report quarterly earnings of $4.28 per share, a significant jump from the $3.97 per share reported in the same period last year.
Revenue is also projected to rise, with Acuity Brands forecasting a figure of $1.02 billion for the quarter, slightly exceeding the $1.01 billion generated in the corresponding quarter of the previous year. This positive outlook is supported by data from Benzinga Pro.
Adding to the positive news, Acuity Brands’ board recently declared a quarterly dividend of 15 cents per share, highlighting the company’s commitment to shareholder value. The stock itself closed at $270.00 on Friday, showing a slight gain of 0.1%.
To provide investors with further insight, let’s delve into recent analyst ratings on Acuity Brands. Benzinga offers a comprehensive platform for accessing analyst ratings on various stocks, allowing users to sort by stock ticker, company name, analyst firm, rating change, or other relevant factors.
Here’s a breakdown of recent ratings from Benzinga’s most accurate analysts:
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Wells Fargo:
Analyst Joseph O’Dea maintained an Equal-Weight rating for Acuity Brands but raised the price target from $260 to $289 on September 24th. O’Dea has an accuracy rate of 60%.*
Baird:
Timothy Wojs, an analyst at Baird, kept a Neutral rating on the stock but lowered the price target from $286 to $280 on June 18th. Wojs boasts an accuracy rate of 74%.*
Oppenheimer:
Christopher Glynn, an analyst with Oppenheimer, maintained an Outperform rating for Acuity Brands, raising the price target from $250 to $315 on April 4th. Glynn has an accuracy rate of 81%.These varying perspectives from reputable analysts offer a multi-faceted view of Acuity Brands’ future prospects. As investors consider the company’s upcoming earnings release, these insights provide valuable context and guidance.
