Acuity Brands Reports Record First Quarter Results
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Canaccord Genuity Cuts Price Target on Acuity Brands (AYI) Following Slight EPS Miss
January 11, 2016 8:22 AM ESTCanaccord Genuity maintained a Buy rating on Acuity Brands (NYSE: AYI), and cut the price target to $265.00 (from $268.00), following the company's 1Q16 earnings report. Revenues were $736.6M compared to consensus estimate of $740M. EPS of $1.57 came in 1c below consensus estimate of $1.58. Although the recent acquisitions... More
Acuity Brands (AYI) Tops Q1 EPS by 7c
January 8, 2016 8:54 AM ESTAcuity Brands (NYSE: AYI) reported Q1 EPS of $1.65, $0.07 better than the analyst estimate of $1.58. Revenue for the quarter came in at $736.6 million versus the consensus estimate of $740.31 million.
Outlook
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, We remain very bullish about our prospects for continued future profitable growth. Third-party forecasts as well as key leading indicators suggest that the growth rate for the North American lighting market, which includes renovation and retrofit activity, will be in the mid-to-upper single... More
