Yahoo Finance Acuity Brands (AYI) Dips More Than Broader Markets: What You Should Know
Acuity Brands (AYI) closed the most recent trading day at $150.69, moving -1.91% from the previous trading session. This move lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq gained 10.45%.
Coming into today, shares of the lighting maker had lost 3.38% in the past month. In that same time, the Construction sector lost 0.65%, while the S&P 500 gained 1.05%.
Acuity Brands will be looking to display strength as it nears its next earnings release, which is expected to be June 29, 2023. On that day, Acuity Brands is projected to report earnings of $3.60 per share, which would represent 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.
AYI's full-year Zacks Consensus Estimates are calling for earnings of $13.74 per share and revenue of $4.06 billion. These results would represent year-over-year changes of +7.09% and +1.39%, respectively.
Investors might also notice recent changes to analyst estimates for Acuity Brands. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.07% lower. Acuity Brands currently has a Zacks Rank of #3 (Hold).
Investors should also note Acuity Brands's current valuation metrics, including its Forward P/E ratio of 11.19. This valuation marks a discount compared to its industry's average Forward P/E of 13.21.
Meanwhile, AYI's PEG ratio is currently 1.12. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AYI's industry had an average PEG ratio of 1.12 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 64, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Acuity Brands Inc (AYI) : Free Stock Analysis Report
