NEW YORK (TheStreet) -- Acuity Brands (AYI) - Get Acuity Brands, Inc. Report shares are gaining in after-hours trading today, up 0.59% to $168.09, following the release of the company's second quarter earnings results before the opening bell today.
The lighting solutions provider saw a 41% increase in profit during the quarter, reporting net income of $46.4 million, or $1.08 per diluted share, beating analysts' earnings expectations of $1.06 for the quarter by two cents.
The company generated revenue of $616.1 million for the quarter short of the $627.2 million consensus revenue expectations.
TheStreet Ratings team rates ACUITY BRANDS INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACUITY BRANDS INC (AYI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: AYI Ratings Report