How To Earn $500 A Month From Acuity Brands Stock Ahead Of First-Quarter Earnings Report
Portfolio Pulse from Avi Kapoor
Acuity Brands, Inc. (NYSE:AYI) is anticipated to release its fiscal 2024 Q1 earnings on Jan. 9, 2023, with expected earnings of $3.22 per share on revenue of $937.70 million. Wells Fargo analyst Joseph O'Dea has maintained an Overweight rating and raised the price target from $200 to $236. The company previously reported better-than-expected earnings for Q4 2023. Acuity Brands offers a dividend yield of 0.25%, with a quarterly dividend of 13 cents per share. To earn $500 a month in dividends, an investor would need to own approximately 11,538 shares, valued at $2,369,674. AYI shares rose 0.9% to close at $205.38 on Friday.
January 08, 2024 | 1:46 pm
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POSITIVE IMPACT
Acuity Brands is expected to report Q1 earnings with analysts predicting positive results. The company has a history of better-than-expected earnings and offers a modest dividend yield. Analysts have a bullish outlook, with a recent price target increase.
The anticipation of positive earnings and the recent price target increase by Wells Fargo suggest a bullish sentiment, which could lead to a short-term positive impact on AYI's stock price. The consistent dividend may also attract income-focused investors, supporting the stock's performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100