Canaccord Genuity Cuts Price Target on Acuity Brands (AYI) Following Slight EPS Miss
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January 8, 2016 12:36 PM EST
Oppenheimer reaffirms Acuity Brands (NYSE: AYI) with an Outperform rating and $265 price target following Q1 results release earlier Friday.
Analyst Christopher Glynn commented: AYI's reporting basis for adjusted earnings now excludes all stock-based compensation and all acquired intangibles amortization. Our variance... More
January 8, 2016 8:54 AM EST
Acuity 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
January 7, 2016 2:59 PM EST
The Trading Radar highlights key earnings and economic announcements for the next trading session:
Before Markets Open:
Economics:
8:30am EST
Nonfarm Payrolls - Street sees 200KNonfarm Private Payrolls - Street sees 194KUnemployment Rate - Street sees 5.00%Hourly...
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