Acuity Brands (AYI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Acuity Brands (AYI) closed at $163.64, marking a -0.7% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%.
Prior to today's trading, shares of the lighting maker had gained 4.06% over the past month. This has lagged the Construction sector's gain of 7.57% and the S&P 500's gain of 4.86% in that time.
Acuity Brands will be looking to display strength as it nears its next earnings release, which is expected to be June 29, 2023. In that report, analysts expect Acuity Brands to post earnings of $3.60 per share. This would mark year-over-year growth of 2.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, down 2.26% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $13.74 per share and revenue of $4.06 billion. These totals would mark changes of +7.09% and +1.39%, respectively, from last year.
Any recent changes to analyst estimates for Acuity Brands should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.07% lower. Acuity Brands is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Acuity Brands is holding a Forward P/E ratio of 12. This valuation marks a discount compared to its industry's average Forward P/E of 13.92.
It is also worth noting that AYI currently has a PEG ratio of 1.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AYI's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Building Products - Lighting industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AYI in the coming trading sessions, be sure to utilize Zacks.com.
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Acuity Brands Inc (AYI) : Free Stock Analysis Report
