Yahoo Finance Acuity Brands (AYI) Outpaces Stock Market Gains: What You Should Know
Acuity Brands (AYI) closed at $153.10 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily gain of 0.99%.
Heading into today, shares of the lighting maker had lost 6.15% over the past month, lagging the Construction sector's loss of 1.95% and the S&P 500's gain of 0.42% in that time.
Investors will be hoping for strength from Acuity Brands as it approaches its next earnings release, which is expected to be June 29, 2023. In that report, analysts expect Acuity Brands to post earnings of $2.73 per share. This would mark a year-over-year decline of 22.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, down 2.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.74 per share and revenue of $4.06 billion, which would represent changes of +7.09% and +1.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Acuity Brands. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 1.07% lower within the past month. Acuity Brands is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Acuity Brands currently has a Forward P/E ratio of 10.97. This represents a discount compared to its industry's average Forward P/E of 13.04.
It is also worth noting that AYI currently has a PEG ratio of 1.1. 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. The Building Products - Lighting was holding an average PEG ratio of 1.1 at yesterday's closing price.
The Building Products - Lighting industry is part of the Construction sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Acuity Brands Inc (AYI) : Free Stock Analysis Report
