Acuity Brands, Inc. (NYSE:AYI) Plans Quarterly Dividend of $0.13

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% meaning its dividend is sufficiently covered by earnings. Research 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 traded up $0.38 during trading on Friday, hitting $131.20. 366,562 shares of the company’s stock traded hands, compared to its average volume of 594,432. Acuity Brands has a 52 week low of $103.48 and a 52 week high of $173.01. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 0.18. The firm has a market cap of $5.23 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.38 and a beta of 1.67. The firm has a 50-day simple moving average of $132.25.

Acuity Brands (NYSE:AYI) last announced its earnings results on Tuesday, July 2nd. The electronics maker reported $2.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.37 by $0.16. The business had revenue of $947.60 million for the quarter, compared to analyst estimates of $969.48 million. Acuity Brands had a return on equity of 19.90% and a net margin of 9.02%. Acuity Brands’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 EPS. Equities analysts forecast that Acuity Brands will post 9.09 EPS for the current year.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Roth Capital set a $7.00 price target on Arcimoto and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Credit Suisse Group restated an “outperform” rating on shares of in a research note on Wednesday, June 5th. JMP Securities boosted their price target on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Finally, Robert W. Baird set a $8.00 price target on SRC Energy and gave the company a “buy” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Acuity Brands presently has a consensus rating of “Hold” and a consensus price target of $149.90.

In other news, Director Ray M. Robinson sold 2,363 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $130.15, for a total value of $307,544.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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Dividend History for Acuity Brands (NYSE:AYI)

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