Acuity Brands (AYI) announced its most recent quarterly financial results on Wednesday, Oct-5-2016. AYI reported $2.21 earnings per share for the quarter, missing the analyst consensus estimate by $-0.18. Analysts had a consensus of $2.39. The company posted revenue of $925.50 million in the period, compared to analysts expectations of $946.53 million. AYI’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS.
Many Wall Street Analysts have commented on Acuity Brands. Williams Capital Group Initiated Acuity Brands on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $306.ROTH Capital Initiated Acuity Brands on Aug 25, 2016 to “Neutral”, Price Target of the shares are set at $275.
Acuity Brands closed down -8.52 points or -3.23% at $255 with 6,13,377 shares getting traded on Tuesday. Post opening the session at $262.88, the shares hit an intraday low of $253.69 and an intraday high of $264.2 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Investors should note that on Sep 30, 2016, Acuity Brands announced a cash dividend of $0.1300. The company’s management has announced Oct 14, 2016 as the ex-dividend date and fixed the record date on Oct 18, 2016. The payable date has been fixed on Nov 1, 2016.
In a different news, on Jul 12, 2016, Vernon J Nagel (Chairman, President, and CEO) sold 65,060 shares at $268.30 per share price. According to the SEC, on Jul 12, 2016, Richard K Reece (EVP/Chief Financial Officer) sold 33,430 shares at $269.07 per share price. On Jul 7, 2016, Mark A Black (EVP) sold 2,654 shares at $250.27 per share price, according to the Form-4 filing with the securities and exchange commission.
Acuity Brands Inc. (Acuity Brands) is the parent company of Acuity Brands Lighting Inc. (ABL) and other subsidiaries. Acuity Brands is a provider of lighting solutions for commercial institutional industrial infrastructure and residential applications throughout North America and select international markets. The Company’s lighting solutions include devices such as luminaires lighting controls power supplies prismatic skylights light-emitting diode (LED) lamps and integrated lighting systems for indoor and outdoor applications utilizing a combination of light sources including daylight and other devices controlled by software that monitors and manages light levels while optimizing energy consumption (collectively referred to herein as lighting solutions). On March 13 2013 the Company acquired eldoLED Europe BV.