Acuity Brands climbs after quarterly beat

Acuity

04/10/2022 14:49

** Shares in industrial technology company, Acuity Brands
 AYI.N  up 5.5% in morning trading after reporting quarterly
earnings and revenue that beat analyst estimates
    ** AYI, whose offerings include lighting, lighting controls
and building management systems, reported fiscal Q4 adj EPS of
$3.95 compared with mean estimate for $3.59 while rev of $1.11
bln compared with expectations for $1.079 bln, according to
Refinitiv 
    ** Stock last traded at $168.47 compared with median PT of
$190 according to Refinitiv, which shows 11 analysts covering
the stock with 2 'strong buy,' 3 'buy,' and 6 'hold' ratings
    ** Neil Ashe, Chief Executive Officer said the company had
strong demand across its end markets, and was able to "capture
price and drive volume" in its lighting and spaces businesses
throughout the year.  urn:newsml:reuters.com:*:nGNX3mtbhR
    ** YTD AYI shares down 20.4% vs 20.99% drop for S&P 900
 .SPLGMID 
 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com;))