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Does Acuity Brands (AYI) have what it takes to be a top stock pick for momentum investors? Let's find out.
I reiterate my buy rating for Acuity Brands, Inc. due to expected near-term growth supported by strong data points and a solid balance sheet. AYI's 4Q24 results showed revenue of $1.03 billion, driven by growth in ABL and ISG segments, with strong gross and adj EBIT margins. Favorable macroeconomic trends and rising demand for data centers are expected to drive AYI's growth, supported by a robust cash position for strategic investments.
The stock of Acuity Brands (AYI, Financial) saw an upswing today as its price reached $303.79, marking a 1.93% increase. This boost comes on the heels of the company releasing impressive fiscal fourth-quarter 2024 results, fostering strong investor confidence.
Between the company's strong recent performance and its encouraging outlook, investors are excited about Acuity Brands stock.
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AYI's fiscal fourth-quarter results reflect solid ISG contribution, better cost management and operational efficiency.
Acuity Brands, Inc. (NYSE:AYI ) Q4 2024 Earnings Conference Call October 1, 2024 8:00 AM ET Company Participants Charlotte McLaughlin - VP, IR Neil Ashe - Chairman, President & CEO Karen Holcom - SVP & CFO Conference Call Participants Tim Wojs - Baird Christopher Glynn - Oppenheimer Joe O'Dea - Wells Fargo Brian Lee - Goldman Sachs & Company Operator Good morning and welcome to Acuity Brands Fiscal 2024 Fourth Quarter Earnings Call. At this time all participants are in a listen-only mode.
Acuity Brands (AYI) came out with quarterly earnings of $4.30 per share, beating the Zacks Consensus Estimate of $4.19 per share. This compares to earnings of $3.97 per share a year ago.
Acuity Brands, Inc. AYI will release earnings results for its fourth quarter, before the opening bell on Tuesday, Oct. 1.
Atlanta, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Acuity Brands, Inc. (NYSE: AYI; "Company") today declared a quarterly dividend of 15 cents per share. The dividend is payable on November 1, 2024, to shareholders of record on October 18, 2024.