Acuity Brands Inc. ($AYI) Stock Forecast: Up 5.7% Today

What is Acuity Brands Inc.?

Acuity Brands, Inc. (AYI) is a lighting and building management firm that reported mixed Q3 results with a decline in net sales but beat earnings estimates.

Why is Acuity Brands Inc. going up?

AYI stock is up 5.7% on Jun 27, 2024 13:41

• AYI stock experienced a bullish movement recently.
• The strong earnings performance, surpassing both revenue and EPS estimates, likely boosted investor confidence in the company's future prospects.
• Despite the net sales decline, the market focused on the positive earnings surprise, indicating a more optimistic outlook for Acuity Brands.
• The overall positive sentiment in the market, with US stocks settling higher and the Nasdaq Composite gaining, may have also contributed to the bullish movement in AYI stock.

AYI Price Chart

AYI News

Acuity Brands' Intelligent Spaces Revenue Soars 15% in Mixed Q3 Results - Acuity Brands ( NYSE:AYI )

Lighting and building management firm Acuity Brands, Inc AYI reported a fiscal third-quarter 2024 net sales decline of 3.2% year-over-year to $968.1 million, missing the analyst consensus estimate of $1.01 billion. It clocked an adjusted EPS of $4.15, beating the analyst consensus estimate of $4.13.

https://www.benzinga.com/news/earnings/24/06/39523759/acuity-brands-intelligent-spaces-revenue-soars-15-in-mixed-q3-results

Acuity Brands ( AYI ) Q3 Earnings Surpass Estimates

Acuity Brands (AYI) delivered earnings and revenue surprises of 1.22% and 2.74%, respectively, for the quarter ended May 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2294097/acuity-brands-ayi-q3-earnings-surpass-estimates

Acuity Brands posts mixed Q3 results

https://www.investing.com/news/stock-market-news/acuity-brands-posts-mixed-q3-results-93CH-3499058

https://www.investing.com/news/stock-market-news/acuity-brands-posts-mixed-q3-results-93CH-3499058

Options Volatility and Implied Earnings Moves Today, June 27, 2024

Today, several major companies are expected to report earnings: Acuity Brands (AYI), Apogee (APOG), Simply Good Foods (SMPL), Lindsay (LNN), McCorm…

https://www.tipranks.com/news/options-volatility-and-implied-earnings-moves-today-june-27-2024

US Stocks Settle Higher As Investor Sentiment Improves: Nasdaq On Course To Gain 19% In First-Half Of 2024 Following Nvidia Surge - Walgreens Boots Alliance ( NASDAQ:WBA )

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the "Fear" zone on Wednesday. U.S. stocks closed mostly higher on Wednesday, with the Nasdaq Composite gaining around 0.5% during the session.

https://www.benzinga.com/news/earnings/24/06/39517874/us-stocks-settle-higher-as-investor-sentiment-improves-nasdaq-on-course-to-gain-19-in-first-half-of

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Acuity Brands Inc. Price History

10.00.2024 - AYI Stock was up 11.0%

• Despite a decline in sales, Acuity Brands Inc (AYI) achieved margin expansion and EPS growth in the first quarter of 2024. This positive performance contributed to the bullish movement of the stock.
• AYI reported earnings per share of $3.72, surpassing analyst estimates, which further boosted investor confidence and contributed to the bullish movement.
• The upbeat first-quarter earnings report of Acuity Brands Inc (AYI) exceeded expectations, leading to a surge in the stock price.
• The better-than-expected earnings of AYI caused its stock to rise nearly 6%, reaching a 2-year high. This positive news likely attracted more investors and contributed to the bullish market movement.

04.09.2023 - AYI Stock was up 5.6%

• Despite a decline in sales, Acuity Brands (AYI) managed to surpass earnings expectations in the fourth quarter.
• The company's adjusted EPS beat consensus estimates, indicating strong financial performance.
• The positive earnings surprise could be attributed to improved cash flow and margin growth, which offset the decline in revenue.
• However, the missed revenue expectations suggest that Acuity Brands may be facing challenges in generating sales growth.

03.03.2024 - AYI Stock was up 1.2%

• Acuity Brands (AYI) reported impressive second-quarter fiscal 2024 results, with earnings per share beating estimates and margins expanding.
• Despite missing revenue estimates, the strong performance in earnings and margin expansion contributed to the bullish movement in AYI stock.
• The mixed Q2 results, with earnings beating expectations, likely instilled confidence in investors, leading to the bullish market movement.
• The overall positive sentiment surrounding AYI's performance in Q2 could have been the primary driver behind the strong bullish movement in the stock today.

18.09.2023 - AYI Stock was down 5.3%

• The bearish movement in AYI's stock today can be attributed to a combination of factors:
• 1. Soft non-residential markets: an article from Seeking Alpha suggests that AYI's stock was dimmed by softer non-residential markets. This indicates that the company's performance may have been affected by a slowdown in demand for its products in commercial and industrial sectors.
• 2. Downgraded stock rating: an article from Stocknews.com mentions that AYI's stock rating was lowered from "strong-buy" to "buy" by StockNews.com. This downgrade could have influenced investor sentiment and contributed to the bearish movement.
• 3. Technical benchmark: an article from Investors Business Daily highlights that AYI recently cleared a technical benchmark with an upgrade in its relative price strength rating. However, this positive development may not have been enough to offset the negative impact of the other factors mentioned above.
• Overall, the bearish movement in AYI's stock today can be attributed to the softer non-residential markets, a downgraded stock rating, and potentially overshadowed positive technical indicators.

03.03.2024 - AYI Stock was up 4.3%

• AYI stock saw favorable movement following an earnings beat, with adjusted earnings per share increasing by 11% year-over-year.
• Despite a 4.0% year-over-year drop in net sales, the company's profits and margins improved, sparking positive market sentiment.
• The market responded well to the earnings beat and resilient profitability despite a small revenue miss.
• Investors seemed optimistic about the company exceeding both earnings and revenue expectations, driving the bullish movement in AYI stock.

03.05.2024 - AYI Stock was down 5.1%

• Acuity Brands' plan to release its fiscal 2024 third quarter results on June 27, 2024, may have created uncertainty among investors, leading to a bearish sentiment.
• Investors might be cautious due to the upcoming earnings report, potentially anticipating lower-than-expected results or guidance.
• The focus on retirement stocks may have diverted attention from Acuity Brands, causing a lack of positive sentiment and contributing to the bearish movement in the stock price.

27.05.2024 - AYI Stock was up 5.7%

• AYI stock experienced a bullish movement recently.
• The strong earnings performance, surpassing both revenue and EPS estimates, likely boosted investor confidence in the company's future prospects.
• Despite the net sales decline, the market focused on the positive earnings surprise, indicating a more optimistic outlook for Acuity Brands.
• The overall positive sentiment in the market, with US stocks settling higher and the Nasdaq Composite gaining, may have also contributed to the bullish movement in AYI stock.