AZZ Inc. (AZZ) Issues Quarterly Earnings Results
AZZ Inc. (NYSE:AZZ) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09), MarketWatch Earnings reports. The company had revenue of $190.40 million for the quarter, compared to analyst estimates of $193.70 million. AZZ had a return on equity of 9.65% and a net margin of 6.27%. AZZ’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 earnings per share. AZZ updated its FY18 guidance to $1.80-2.30 EPS.
AZZ (NYSE:AZZ) opened at 47.50 on Thursday. The company’s 50-day moving average is $48.71 and its 200-day moving average is $53.48. The stock has a market capitalization of $1.23 billion, a P/E ratio of 24.11 and a beta of 1.52. AZZ has a 12 month low of $44.80 and a 12 month high of $67.70.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, October 17th. AZZ’s payout ratio is presently 34.52%.
AZZ has been the subject of several research reports. BidaskClub lowered shares of AZZ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded shares of AZZ from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. TheStreet downgraded shares of AZZ from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Finally, Stifel Nicolaus dropped their price target on shares of AZZ from $56.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday, September 27th.
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In related news, insider Thomas E. Ferguson bought 5,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average cost of $49.59 per share, for a total transaction of $247,950.00. Following the acquisition, the insider now owns 49,037 shares of the company’s stock, valued at approximately $2,431,744.83. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul Wesley Fehlman bought 1,500 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $49.31 per share, for a total transaction of $73,965.00. Following the completion of the acquisition, the chief financial officer now directly owns 9,287 shares in the company, valued at approximately $457,941.97. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.
AZZ Company Profile
AZZ Inc is a provider of galvanizing services, welding solutions, specialty electrical equipment and engineered services to the power generation, transmission, distribution, refining and industrial markets. The Company operates through two segments: Energy segment and Galvanizing segment. Its Energy segment provides products and services designed to support industrial, nuclear and electrical applications.
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