Q3 2017 EPS Estimates for AZZ Inc. Lowered by Analyst (AZZ)
AZZ Inc. (NYSE:AZZ) – Equities researchers at DA Davidson reduced their Q3 2017 earnings estimates for AZZ in a research report issued on Wednesday. DA Davidson analyst B. Thielman now expects that the brokerage will post earnings of $0.94 per share for the quarter, down from their prior estimate of $1.03. DA Davidson has a “Hold” rating and a $55.00 price objective on the stock. DA Davidson also issued estimates for AZZ’s Q4 2017 earnings at $0.72 EPS, FY2018 earnings at $3.48 EPS and FY2019 earnings at $3.80 EPS.
AZZ (NYSE:AZZ) last posted its earnings results on Wednesday, October 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.17. The firm earned $195 million during the quarter, compared to analyst estimates of $225.43 million. AZZ had a net margin of 7.88% and a return on equity of 15.84%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share.
Separately, Zacks Investment Research downgraded shares of AZZ from a “hold” rating to a “strong sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $60.00.
AZZ (NYSE:AZZ) traded down 4.27% during trading on Friday, reaching $55.82. 438,372 shares of the company’s stock traded hands. AZZ has a 1-year low of $47.04 and a 1-year high of $67.98. The firm has a market capitalization of $1.45 billion, a PE ratio of 18.61 and a beta of 1.34. The firm has a 50 day moving average of $64.66 and a 200 day moving average of $60.34.
A number of institutional investors have recently bought and sold shares of AZZ. Advisors Asset Management Inc. increased its position in AZZ by 12.7% in the second quarter. Advisors Asset Management Inc. now owns 1,737 shares of the company’s stock valued at $104,000 after buying an additional 196 shares during the period. BlackRock Inc. increased its position in AZZ by 131.3% in the first quarter. BlackRock Inc. now owns 1,876 shares of the company’s stock valued at $106,000 after buying an additional 1,065 shares during the period. Tower Research Capital LLC TRC acquired a new position in AZZ during the second quarter valued at $181,000. PineBridge Investments L.P. increased its position in AZZ by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,288 shares of the company’s stock valued at $197,000 after buying an additional 131 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in AZZ by 35.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,434 shares of the company’s stock valued at $206,000 after buying an additional 890 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.
In other AZZ news, SVP Timothy E. Pendley sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $62.02, for a total transaction of $74,424.00. Following the completion of the transaction, the senior vice president now directly owns 30,980 shares in the company, valued at approximately $1,921,379.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wallace P. Eisman bought 1,000 shares of the company’s stock in a transaction on Friday, July 15th. The shares were acquired at an average price of $62.27 per share, with a total value of $62,270.00. Following the completion of the acquisition, the director now directly owns 4,641 shares in the company, valued at approximately $288,995.07. The disclosure for this purchase can be found here. Company insiders own 0.01% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, October 18th will be issued a dividend of $0.17 per share. This is an increase from AZZ’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, October 14th. AZZ’s dividend payout ratio (DPR) is 22.06%.
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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