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News Breaks
July 2, 2014
09:09 EDTAYIAcuity Brands price target lowered to $156 from $172 at Canaccord
Canaccord lowered its price target on Acuity Brands to $156 from $172 following its Q3 results. However, the firm believes the company remains the best positioned in their coverage group to deliver sales and earnings upside over the next 3-5 years and keeps its Buy rating on the stock.
News For AYI From The Last 14 Days
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October 1, 2014
09:07 EDTAYIAcuity Brands 'very bullish' about prospects for future profitable growth
Acuity Brands CEO Acuity Brands stated, "We remain very bullish about our prospects for 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 digit range for FY15 with expectations that overall demand in our end markets will continue to experience solid growth over the next several years. Our order rates through the month of September reflect this favorable trend. Further, we expect to continue to outperform the growth rates of the markets we serve due to benefits from growing renovation and tenant improvement projects, further expansion in underpenetrated geographies and channels, and growth from the introduction of new products and lighting solutions. In FY15, we intend to invest in capital expenditures totaling approximately two percent of net sales, and we estimate our annual tax rate to be approximately 35.5% before any discrete items, assuming the tax rates in our taxing jurisdictions remain generally consistent throughout year." Nagel concluded, "We believe the lighting and lighting-related industry will experience solid growth over the next decade, particularly as energy and environmental concerns come to the forefront along with emerging opportunities for digital lighting to play a key role in the Internet of Things. We believe we are well positioned to fully participate in this exciting industry."
09:05 EDTAYIAcuity Brands reports Q4 EPS $1.26, consensus $1.22
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September 30, 2014
15:05 EDTAYINotable companies reporting before tomorrow's open
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14:26 EDTAYIAcuity Brands technical comments ahead of earnings
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September 29, 2014
09:51 EDTAYIAcuity Brands management to meet with Oppenheimer
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September 22, 2014
07:04 EDTAYIAcuity Brands volume growth accerated in Q4, says RW Baird
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